The cryptocurrency market took a severe beating on Wednesday
, the world’s largest cryptocurrency, plunged to a daily low of $42,412 on the Bitstamp exchange, which marked a 7.5% daily drop. Alternative cryptocurrencies have taken an even harder beating, with Solana , Terra and Polkadot recording double-digit losses.The market turbulence comes after minutes from the U.S. Federal Reserve’s December meeting, which were released on Wednesday, showed that the central bank could hikeThe news sent U.S. equities sharply lower.
, the country’s government imposed a nationwide internet shutdown to quell unrest, forcing local miners to switch off their equipment.
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