The prices of leading cryptocurrencies took another downturn this week after briefly inching upwards the week before. 

Market leader Bitcoin (BTC) posted a mild overnight drop of 2% to below $29,000 on Thursday, after minutes of the latest Federal Reserve policy meeting were released the day before. The document indicatesthat  the U.S. central bank will continue its conservative monetary policy in an ongoing effort to rein in inflation.

Later that day, Bitcoin dropped below $28,000 for the first time in two months. By the afternoon, it appeared to be in the midst of a flash crash, reaching a bottom of $25,649 before rebounding a little. 

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Author: Tim Hakki

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