Bitcoin and other cryptocurrencies decline as the Fed confirms interest rate hikes

• Bitcoin prices declined about 7% in the last 24 hours, dropping to $42,503.88

• Ether plummeted nearly 10% to $3,452.58

Bitcoin prices plummeted today after the Federal Reserve released the minutes' reports of its last policy gathering in 2021 that mentioned a hike of interest rates in the coming months.

Bitcoin (BTC) prices declined about 7% in the last 24 hours, dropping from $45,800 to $$42,503.88. This is the lowest price for cryptocurrency since September 2021. At 5:53 am Et BTC is trading at $42,872.