The prices of major cryptocurrencies lost ground on Friday, registering a steep fall, with Bitcoin going under the $93,000 mark.
The most recent United States Federal Reserve economic projections seem to have affected the appetite for risk assets, as the central bank foresaw having fewer interest rate cuts over the next year than previously thought. Meanwhile, Fed Chair Jerome Powell commented that the Fed isn't allowed to hold Bitcoin and doesn't seek changes in law on that matter.
Bitcoin tanked 5.09% at 7:05 am ET, going for $92,543. At the same time, Ethereum slid 8.45%, selling at $3,126.