Blame Fed and Leveraged Traders for This Crypto Seloff Markets ranging from global technology stocks to crypto took a major hit over the past day, after a release of minutes from the last US Federal Reserve (Fed) meeting revealed a more hawkish stance than the market had expected. At 10:09 UTC, bitcoin (BTC) traded at USD 42,738, down by 9% over the past 24 hours, while ethereum (ETH) stood at USD 3,334, down 13% over the same time period.