Major cryptocurrencies were trading flat early on June 23 as the global crypto market cap increased 0.05 per cent to $899.78 billion over the last 24 hours.
On the other hand, the total crypto market volume declined 5.85 per cent to $66.53 billion during the period.
Meanwhile, markets are bracing for a world of higher interest rates, led by moves from the US Federal Reserve. Higher rates can bring down inflation, but they also risk bringing on a recession by slowing the economy.
They also tend to hurt the prices of stocks, cryptocurrencies, and other investments. Last week, the Fed hiked its key short-term interest rate by triple the usual amount in its biggest increase since 1994. It could consider another such mega hike at its next meeting in July.