One of the crypto winter catalysts was the Federal Reserve’s announcement of a rate increase to curb inflation, taking the country towards a recession. As soon as the information reached the crypto community, investors and traders started a panic sell-off that plummeted crypto prices.
Even though the Terra crash exacerbated the situation, prices have fluctuated whenever the Feds meet to discuss measures to fight inflation.
But in July, crypto prices showed signs of recovery, but the trends didn’t last long. From August 22 to 24, Bitcoin is on the verge of losing its hold on the $ 21K price. Ethereum is not faring well either, as growth seems to stop.