With consumer prices rising and the Federal Reserve raising interest rates strongly to combat inflation, the cryptocurrency market, like stocks and other assets, was hit hard on Saturday. On June 18, major cryptocurrencies were trading in the red, with the global crypto market worth $843.56 billion, down 6.50 per cent from the previous day. According to CoinMarketCap statistics, the global crypto market volume for the previous 24 hours was $68.48 billion, a 6.70 per cent decline compared to the previous day. Bitcoin, the most valuable cryptocurrency, has dropped below $20K, trading at $19,162.89, down over 8%. Bitcoin dropped to a low of $18,849.5 on an intraday basis, the lowest level since December 2020. The largest cryptocurrency, Bitcoin, has a market valuation of $365,960,496,453.18 at the time of writing, down 7.88 per cent. Ether (ETH), the second-largest crypto by market cap, fell 8.30 per cent in a day and settled at $1,001.80, while ETH has down 35.96 per cent in the previous seven days and Bitcoin has dropped 33.03 per cent, making them the top losers in the crypto market by market cap. DeFi now has a total volume of $4.80 billion, accounting for 7.03 per cent of the total 24-hour volume in the crypto market. The overall 24-hour volume of all stable currencies is currently $61.21 billion dollars, accounting for 89.65% of the total crypto market volume, according to CoinMarketCap’s data.