The bitcoin exchange rate per day decreased by 4.5%, at the moment dropping to $28.6 thousand. The cryptocurrency continues to trade in a narrow range from $31 thousand to $28 thousand. The capitalization of the asset has decreased to $551 billion, according to CoinGecko.
Following bitcoin, altcoins also fell in price. The price of Ethereum fell by 6.2% to $1.9K. The price of the Binance Coin fell by 4% to $316. The total market capitalization over the past 24 hours has decreased by 5%, to $1.2 trillion.
Bitcoin is trading well below its all-time high of $69,000. The cryptocurrency peaked in November 2021. Since then, it has fallen in price by 58%.
The New York Stock Exchange ended higher on Wednesday after the release of the minutes of the Fed's latest monetary policy meeting, officials said the US economy was very strong, as they seek to control the inflation without causing a recession.