Bitcoin, ether tumble after Fed minutes show talk of quicker end to easy policy stance

Bitcoin, ether tumble after Fed minutes show talk of quicker end to easy policy stance

Major cryptocurrencies plunged Wednesday after minutes from the Federal Open Market Committee’s December meeting showed some officials had extensive discussions of how to more quickly move away from its current easy-monetary stance by hiking rates and shrinking its $8.67 trillion balance sheet.

Bitcoin BTCUSD, -0.08% declined more than $2,500 after the minutes were released at 2 p.m. Eastern Time. That added to the cryptocurrency’s roughly 6% decline over the past 24 hours, recently trading at around $43,466, according to CoinDesk.

Ether ETHUSD, -0.81% declined 7.5% over the past 24 hours, recently trading at around $3,526.

Most major cryptocurrencies have been retreating. Solana SOLUSD, -0.14% traded 9.3% lower from 24 hours ago at around $153. Terra went down 8.6% to about $77. Polygon MATICUSD, -0.31% posted a 9.5% loss at around $2.2. Meme coin Dogecoin DOGEUSD, -0.68% lost 7.2%,…

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