Bitcoin Slumps to $45K Amid Hawkish Fed, Buying Activity Remains Positive

Weakness in the top cryptocurrency led to a broader fall in the crypto market. In the past 24 hours, ether (ETH), Solana’s SOL, and XRP fell 5%, while Avalanche’s AVAX and Polkadot’s DOT fell over 6%. Dogecoin’s DOGE was the only gainer among majors, buoyed by optimism around Elon Musk’s appointment to the board of social media platform Twitter (TWTR), which is being viewed as a positive sign for the memecoin.