Bitcoin and Ethereum fell after the Federal Reserve’s meeting minutes pointed to more rate hikes. The minutes were released on October 7.

Bitcoin dropped to $83,065 shortly after the release. It later traded at $83,311, down 2.5 per cent in 24 hours. Ethereum fell from about $2,561 to $2,542. It traded at $2,564, down 4.7 per cent.

Other tokens also declined. BNB fell 1.4 per cent. XRP dropped 5.4 per cent. Solana lost 3.9 per cent. Dogecoin fell 6.6 per cent. The total crypto market shrank 3 per cent to about $2.92 trillion.

Liquidations of $46 million in four hours added to the fall. Leveraged traders rushed to exit. Trading activity rose 34.7 per cent to $106.22 billion.

Most Fed officials see another rate increase as likely by year-end. Tighter money usually hurts risk assets like crypto. Analyst Ali Martinez said $83,300 to $84,600 is a key support zone for Bitcoin. The next test is the October 14 inflation data.