BTC, ETH, BNB, XRP, ADA, DOGE, SOL, TON, DOT, MATIC By Cointelegraph

The Federal Reserve did not hike interest rates in its meeting on Sept. 20 but hinted that rates could remain higher for longer. At the post-meeting press conference, Fed Chair Jerome Powell cautioned that “the process of getting inflation sustainably down to 2% has a long way to go.”

This possible scenario may have triggered the sell-off in the United States equities markets and also in the cryptocurrency space. Risk assets typically tend to underperform in a high-interest-rate environment.