Bitcoin Drops Below This Key Level Following Fed's Rate Hike; Conflux, Huobi Token Among Top Losers

Bitcoin BTC/USD traded lower, with the cryptocurrency prices falling below the key $28,000 level on Thursday.

Ethereum ETH/USD also moved lower, trading below the $1,800 mark this morning.

The Federal Reserve increased interest rates by a quarter of a percentage point to 4.75%-5% at its March FOMC meeting.
During the press conference, Fed Chair Jerome Powell said the FOMC considered a pause at this meeting but the hike was supported by a strong consensus.

Litecoin LTC/USD was the top gainer over the prior 24 hours, while Conflux CFX/USD turned out to be the biggest loser.

At the time of writing, the global crypto market cap fell to $1.16 trillion, recording a 24-hour decline of 1.7%. BTC was trading lower by 2.3% at $27,624 while ETH fell by around 2.5% to $1,757 on Thursday.

Here are the top ten crypto gainers and losers over the past 24 hours:

Gainers

• Litecoin LTC/USD

Price: $91.33
24-hour gain: 12.7%

• Dash DASH/USD

Price: $61.78
24-hour gain: 8.7%

• Mask Network MASK/USD

Price: $5.42
24-hour gain: 6.4%

• Aptos APT/USD

Price: $12.81
24-hour gain: 5.7%

• Flare FLR/USD

Price: $0.03188
24-hour gain: 3.2%

Losers

• Conflux CFX/USD

Price: $0.3739
24-hour drop: 8.3%

• Huobi Token HT/USD

Price: $3.69
24-hour drop: 8.3%

• TRON TRX/USD

Price: $0.06311
24-hour drop: 6.4%

• Algorand ALGO/USD

Price: $0.2182
24-hour drop: 6.3%

• Kava KAVA/USD

Price: $0.8823
24-hour drop: 4.1%

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