El Salvador may abandon Bitcoin
Bitcoin decreased 0.6% on Tuesday, ending the day around $36,600 while Ethereum lost 1.1%. Other leading altcoins from the top ten showed mixed dynamics: from a 7.4% decline of Terra to a 2.3% rise of Polkadot. According to CoinGecko, the total capitalization of the crypto market sank 1.1% to $1.74 trillion over the past day. In total, the crypto market broke the recent days' decline after bitcoin hit lows of the last six months on Monday, dropping below $33,000. This was followed by a sharp rebound upwards to $37,500. The US market was the reason.
Throughout January, stocks are falling in anticipation of the Fed's monetary policy tightening. The decline in risky assets also had a negative impact on bitcoin, which has already lost about 20% since the beginning of the month. A correlation between the benchmark cryptocurrency and Nasdaq has reached a new all-time high, according to Bloomberg.
On Wednesday, all the attention will be riveted to the FOMC meeting. If the regulator tightens its rhetoric and announces the upcoming rate hike as early as March, all risky assets, including cryptocurrencies, could suffer significantly.
Meanwhile, the International Monetary Fund (IMF) has urged El Salvador to move away from bitcoin as a legal currency. MicroStrategy has stated that it would continue to buy BTC despite its decline in recent months. Its worth noting that a week ago, crypto funds recorded the first inflow of funds into their assets in the last six weeks.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 82% | 23 | $64 589.79 | 0.79% | 1.66% | $1 271 789 260 247 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 76.4% | 51 | $3 159.54 | 0.97% | 2.91% | $385 616 245 070 |  |
|
| 3 |  USDT |
Tether predictions | 94.8% | 1 | $1.000118 | 0.07% | -0.03% | $110 476 566 677 |  |
|
| 4 |  BNB |
Binance Coin predictions | 88.8% | 19 | $613.18 | 1.44% | 11.22% | $90 498 449 637 |  |
|
| 5 |  SOL |
Solana predictions | 68% | 71 | $145.33 | -1.18% | 1.89% | $64 985 951 199 |  |
|
| 6 |  USDC |
USD Coin predictions | 92.8% | 2 | $1.000042 | 0% | 0% | $33 354 219 969 |  |
|
| 7 |  XRP |
XRP predictions | 68% | 62 | $0.526380 | 0.30% | 4.63% | $29 018 888 770 |  |
|
| 8 |  DOGE |
Dogecoin predictions | 68% | 60 | $0.151739 | 0.64% | -0.22% | $21 855 823 971 |  |
|
| 9 |  TON |
Toncoin predictions | 67.2% | 66 | $5.45 | -1.56% | -16.58% | $18 920 762 760 |  |
|
| 10 |  ADA |
Cardano predictions | 63.2% | 72 | $0.472644 | -0.13% | 3.17% | $16 842 167 588 |  |
|
| 11 |  SHIB |
SHIBA INU predictions | 62.4% | 82 | $0.000026 | 1.19% | 13.26% | $15 243 078 945 |  |
|
| 12 |  AVAX |
Avalanche predictions | 66% | 69 | $35.59 | -1.83% | 1.78% | $13 459 544 156 |  |
|
| 13 |  STETH |
Lido stETH predictions | 90.8% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 14 |  WTRX |
Wrapped TRON predictions | 85.2% | 19 | $0.117113 | 3.18% | 7.21% | $10 255 501 847 |  |
|
| 15 |  TRX |
TRON predictions | 88% | 21 | $0.117079 | 3.33% | 7.20% | $10 252 482 187 |  |
