Crypto Price Today Live: Bitcoin stays above $20,000; Shiba Inu & Avalanche shed 3% each

economictimes.indiatimes.com:

Bitcoin managed to hold $20,000 levels. The latest red-hot inflation numbers have put global investors on edge about the potential actions by the US Fed in its meeting next week. The FOMC is likely to push interest rates by 75 basis points, while a 100-bps hike can not be ruled out. Barring the US dollar-pegged Tether, all other major crypto tokens were trading lower on Thursday. Shiba Inu and Avalanche dropped 3 per cent each, whereas Bitcoin, Polkadot and Polygon shed 2 per cent each. The global cryptocurrency market cap was trading lower at $990.19 billion, dropping almost a per cent in the last 24 hours. However, total trading volume tumbled as much as 23 per cent, close to $78.30 billion.

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Expert TakeInflation rates once again influenced the global cryptocurrency market this week which led to the global crypto market cap again falling below $1 trillion as it reacted to the US consumer price index, said Prashant Kumar, Founder and CEO weTrade. «The two top cryptocurrencies — Bitcoin and Ethereum — that had made gains over the weekend saw a decline,» he added. «All eyes are on the Ethereum Merge which is scheduled to be completed today.»Global UpdatesA South Korean court has issued an arrest warrant against Do Kwon, the co-founder of the now defunct stablecoin issuer Terraform Labs, according to the financial crimes unit of the Supreme Prosecutors' Office. Cryptocurrency exchange FTX is raising capital in parallel with a potential acquisition, according to a person familiar with the matter. Crypto markets appeared to be in suspension on