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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/intense-sell-off-rocks-crypto-as-bitcoin-and-ethereum-slide">Intense Sell-Off Rocks Crypto as Bitcoin and Ethereum Slide</a><br></p>
<p style="text-align: justify">The <a href="https://en.bitcoinhaber.net/crypto-market-outlook-what-lies-ahead">cryptocurrency</a> sector is currently gripped by a wave of intense selling, with leading digital currency <a href="https://en.bitcoinhaber.net/turkish-traders-prepare-for-critical-period-as-bitcoin-and-ethereum-hit-resistance-levels">Bitcoin</a> shedding over 5% of its value, now trading around $65,000. This downturn has triggered a broader market slump, with <a href="https://en.bitcoinhaber.net/ethereum-whales-accumulate-eth-for-nine-consecutive-days-signaling-a-possible-price-increase">Ethereum</a> and a variety of other altcoins plunging by 7-8%, with certain coins witnessing even more dramatic double-digit losses. This bearish activity has emerged just a day ahead of the Federal Reserve’s much-anticipated decision on interest rates, set for March 20, casting a shadow of uncertainty over the market.</p> 
<h2 id="uncertain-future-as-fed-rate-decision-looms">Uncertain Future as Fed Rate Decision Looms</h2> 
<p style="text-align: justify">Global markets are bracing for the Fed’s upcoming rate decision and the subsequent commentary from Fed Chairman Jerome Powell. Despite market data from CME suggesting that interest rates are likely to remain unchanged with a 99% probability, investors remain on edge, eager to understand the Fed’s strategy for addressing inflation and its implications for cryptocurrency valuation, particularly Bitcoin.</p> 
<p style="text-align: justify">Adding to the global financial tension, the Bank of Japan has executed a significant policy shift, increasing its benchmark interest rate from -0.1% to 0-0.1%—its first rate hike since 2007—thus ending a prolonged period of negative interest rates. This decision has further fueled market anxiety.</p> 
<h2 id="ethereum-takes-a-hard-hit-in-market-downturn">Ethereum Takes a Hard Hit in Market Downturn</h2> 
<p style="text-align: justify">During the Asian trading hours, Ethereum’s value plummeted, dropping to a recent low of $3,257. This steep decline has led to heightened fear among investors, reflected in a -15% deepening front-end downward skew, signifying rising trepidation in the market.</p> 
<p style="text-align: justify">Observations also reveal that Ethereum whales are actively moving substantial amounts of ETH to trading platforms. A significant transfer was flagged by Lookonchain, where a whale deposited roughly $9.06 million, equating to 13,691 ETH, into the Binance exchange. This move suggests a trend of panic selling as market participants seek to crystallize profits amidst the volatility.</p> 
<p style="text-align: justify">Moreover, a bleak perspective is offered by recent ETF flow data, with QCP Capital highlighting a record withdrawal of $642.5 million from the Grayscale Bitcoin Trust. This considerable outflow reflects growing investor uncertainty and a clear shift in market sentiment.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/intense-sell-off-rocks-crypto-as-bitcoin-and-ethereum-slide">Intense Sell-Off Rocks Crypto as Bitcoin and Ethereum Slide</a></h5>

Intense Sell-Off Rocks Crypto as Bitcoin and Ethereum Slide

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