India, July 28 -- Anxiety ahead of the FOMC decision due to be announced on Wednesday as well as a massive chip selloff weakened sentiment in the cryptocurrency market. Fading expectations of the Clarity Act becoming law before the Senate's summer break in August also weighed on sentiment. Overall cryptocurrency market capitalization declined more than 3 percent and Bitcoin traded between $65,648 and $63,016 during the past 24 hours.
Sentiment in crypto markets reflected the anxiety ahead of the Federal Reserve's interest rate decision to be announced on Wednesday afternoon. With inflation still above the Fed's 2-percent target, markets expect the Federal Reserve to hike rates to combat inflationary pressures in the economy. According to t...