Crypto Market Down Due to Fed Rate Decision and Rising Oil Prices

The crypto market has experienced a decline due to the US Federal Reserve's decision to hold interest rates at 3.50%-3.75%. This move has disappointed investors who were hoping for more easing, leading to a broad selloff in the market.

Rising oil prices linked to geopolitical tensions have also added inflation concerns, making risky assets like crypto less attractive. The price of Bitcoin has corrected from its recent high of $74,000 to around $70,000, with most altcoins following suit.