#USConsumerConfidence
Today’s cryptocurrency market crash is due to a combination of economic factors and news. Prices were affected by investor concerns ahead of the US Federal Reserve (FOMC) meeting, with expectations of higher interest rates making speculative assets like cryptocurrencies less attractive. Additionally, news of a Chinese AI app competing with ChatGPT raised concerns about the value of US stocks, which translated into declines in the stock market that affected cryptocurrencies. Currencies like Bitcoin, Ethereum and Ripple also saw significant declines as trading began today.