Bitcoin and cryptocurrency prices have fallen along with stock markets this year as investors brace for a more hawkish Federal Reserve

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The bitcoin price has lost around 40% from its peak of almost $70,000 per bitcoin late last year

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other major coin including Ethereum, Binance, Ripple, Solana price also down by nearly half

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Now, after Federal Reserve chair Jerome Powell signaled a half percentage point interest rate hike is on the table at next week's meeting

the market is braced for the central bank to begin shrinking its huge $9 trillion asset portfolio as it battles soaring inflation.

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Joe Haggenmiller, head of markets at leading crypto finance company XBTO Group, said in emailed comments

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"Macro uncertainty has driven all risk-on assets downwards over the last few months, including bitcoin,".

Marcus Sotiriou, an analyst at the U.K.-based digital asset broker Global Block, wrote in an emailed note

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