From Nasdaq: 2024-04-29 16:25:27

Today, Ethereum, Dogecoin, and Bitcoin Cash are seeing selling pressure with drops of 4.5%, 5.8%, and 3.8%, despite meme stocks surging. Uncertainty around the Federal Reserve meeting and regulatory impacts are contributing to this turmoil in the crypto market. Ethereum faces unique regulatory scrutiny due to its status as the second-largest cryptocurrency. The SEC’s hawkish narrative adds to the bearish momentum, leading to volatility and potential continued selling pressure. Regulatory concerns, Ethereum ETF decisions, and a lawsuit against the SEC contribute to the downward trend. Despite potential for a bounce-back, investors are cautious about investing in these tokens.

Read more at Nasdaq: Why Ethereum, Dogecoin, and Bitcoin Cash Are Slumping Today