Federal Reserve Board Chairman Jerome Powell speaks during a news conference after the attending the … [+]
Cryptocurrencies traded lower Monday as investors await inflation data and the last U.S. Federal Reserve meeting for the year later this week.
Bitcoin BTC is trading just below $17,000, down 1% since Friday close, according to Nomics. Ether is at $1,248, down 1.5% for the period.
Dogecoin DOGE has taken the largest hit among the top 10 cryptocurrencies. The canine-themed token is hovering at 8 cents, having shed 8.5%.
Binance coin follows with a 4.2% decline, worth $276.
The crypto’s market value stands at $872.27 billion, down 1.8% over the last day.
Economists widely expect the U.S. central bank to raise rates by half a percentage point when its two-day meeting concludes Wednesday. The Fed’s decision will be preceded by the November inflation reading from the Commerce Department on Tuesday.
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