Crypto Market Loses $300 Billion as Bitcoin and Ethereum Crash Amid Fears of Aggressive Fed Rate Hikes

Bitcoin, ethereum, XRP, and the broader crypto market have crashed over $300 billion from recent peaks as traders brace for potential Fed interest rate hikes
Bitcoin price has fallen 10% in the past week, accelerating downward suddenly, despite recent bullish news like JPMorgan CEO's bitcoin flip
Traders are eyeing the Fed's interest rate decision on Wednesday, which could cause further crypto price declines if rates are raised more aggressively than expected
Soaring inflation reports last week showed higher than expected consumer and producer price increases, sparking fears of more aggressive Fed policy
Some analysts remain confident the crypto market will resume its upward march and hit new all-time highs in the coming year, with ethereum and altcoins expected to outperform bitcoin