Bitcoin and Ethereum decline as eyes turn to US Fed rate decision

Cryptocurrencies looked set for consecutive red days, as surging inflation and Russia’s invasion of Ukraine continued to shake investor confidence and steer them away from riskier assets toward safe havens. In the US, all eyes turned to the Federal Reserve’s Wednesday decision on interest rates, which analysts expect to be increased by 0.5 percentage points and therefore make borrowing for consumers harder by further squeezing budgets.