Decline in Cryptocurrency Prices Ahead of Federal Decision

Cryptocurrency prices fell during Wednesday's trading, as markets await the Federal Reserve's decision on monetary policy amid escalating geopolitical tensions globally.

Bitcoin dropped by 0.15% to $104,886 at 2:10 AM Mecca time, holding approximately 64% of the total cryptocurrency market value.

The second-largest cryptocurrency by market capitalization, Ethereum, fell by 0.5% to $2,520.27, while Ripple declined by about 0.85% to trade at $2.153.

The global market capitalization of cryptocurrencies stands at $3.26 trillion, with the total trading volume over the past 24 hours reaching $121.4 billion, according to "CoinMarketCap" data.

The Fed is expected to keep interest rates within a range of 4.25% to 4.50%, and cryptocurrency traders are focusing on quarterly policy makers' forecasts, as well as the press conference of the central bank's chairman, "Jerome Powell," to gauge the prospects for monetary easing.