India, April 30 -- Reaction of crypto markets to the Fed's decision to hold rates steady has been broadly bearish in tone. The dissent from three members who were not in favor of communicating a bias toward easing in the FOMC statement at this time also swayed market sentiment significantly. Amidst the hawkish tilt, overall cryptocurrency market capitalization has decreased more than 2 percent in the past 24 hours.
While the Fed's decision was on expected lines, the indications of a widely divided Fed has spooked market sentiment. While eight members of the FOMC including the Fed Chair voted for the action, four have voted against the action. Among the four who dissented, one member preferred to lower rates by a quarter percentage point at...