Crypto market dips ahead of US Fed meeting

Welcome to The Daily Forkast – May 2, 2023 – presented by Megha Chaddah.

The crypto markets fell with Bitcoin dropping as much as 5% at one point in the last 24 hours but has recovered a bit since then, trading now just under the 28,000 dollar mark, down over 2%. Meanwhile, the NFT markets continue to slide with sales volumes falling another 5.8% over the past day.

The market sentiments are ahead of the U.S. Federal Reserve two-day meeting today where another rate hike is expected to be announced.