Cryptocurrency prices fell during trading on Wednesday, with caution dominating investor transactions, ahead of the announcement of the U.S. Federal Reserve's decision on interest rates today.
The Federal Reserve's Open Market Committee meeting is scheduled to end today, amid expectations of a 25 basis point rate cut.
Generally, calm dominates the markets ahead of important announcements such as interest rates, as investors shy away from high-risk assets for fear of loss.
The price of Bitcoin today fell by 0.6%, but it is still near the level of $93,000, as it was traded at $92582.29.
The most famous cryptocurrency in the world and the largest by market value has captured about 58.5% of the total value of the cryptocurrency market.
As for the prices of other cryptocurrencies, the price of Ethereum fell by 0.35% to $3317.06, while Ripple dropped by about 1.15% to $2.0739.
Cryptocurrencies had a slight recovery during yesterday's trading, amid market optimism about a reduction in U.S. interest rates.
The global market capitalization of cryptocurrencies reached $3.16 trillion, while the total trading volume over the last 24 hours was $147.13 billion.
Bitcoin exchange-traded funds in the U.S. managed to attract investments estimated at about $152 million during yesterday's trading, while inflows to Ethereum funds reached about $178 million, the highest daily level since the end of last October, according to data from 'Crypto Briefing'.