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- Crypto markets are slipping as the two-day meeting of the Federal Reserve kicks off.
- Bitcoin suffered its biggest single-day percentage drop since FTX's collapse on Monday.
- A blockchain exec broke down how crypto markets are thinking about this week's expected rate hike.
Crypto markets are trending downward as the Federal Reserve's two-day policy meeting gets underway on Tuesday.
Bitcoin suffered its biggest single-day percentage loss in more than 2 months, sliding 4.5% on Monday, though the crypto pared most of that loss overnight and is down just under 1% Tuesday morning, trading around $23,000.
Ethereum is flat ahead of the central bank meeting, trading at $1,585. The industry's market capitalization maintains a $1 trillion value.