At the time of writing, the price action within the cryptocurrency market recorded an estimated decline of over 0.5% for BTC according to data reported in Coingecko, a fact that somehow increased the confusion that reigns in the current scenario of the price action of the main cryptocurrencies.
In the case of ETH the situation is more negative, this if we consider that at the close of the week it reports an estimated drop over 6.7%, while XRP reports the worst scenario by falling over 11.6% in the last 7 days, which somehow relates to the confusion that took over the market.
Now, when I express that confusion reigns in the current scenario of the price action of the main cryptocurrencies, it is because, even though in the last 24 hours the price action started to rebound, both investors and traders have doubts about what could be the direction that the price direction could take, this taking into account that the FED anticipated that there will be two more hikes throughout the year.
In this sense, although these announcements made by the FED were foreseeable, it is also true that any action or measure they take will be a factor that always plays a determining role in prices, and this has been evidenced in the market in the last few weeks.
In addition to the stance that the Fed has been taking, it has been indicated that the sharp falls in recent weeks are also linked to a complex context posed by the measures being taken by the U.S. Securities and Exchange Commission (SEC).
Even the repercussions have also been felt in the main stablecoin tied to the dollar such as USDT, which in my view created more confusion in the current scenario of the price action of the main cryptocurrencies.
SOURCES CONSULTED
Ambito. Cryptocurrencies close a week to forget and suffer drops of up to 19%. Link
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The cover image was designed by the author: 
, incorporating image: BeinCrypto
, incorporating image: BeinCrypto 
