Baku: Mixed dynamics have been observed in the cryptocurrency market over the past 24 hours, APA-Economics reports.

According to Azeri-Press News Agency, Bitcoin rose by 0.40% over the past 24 hours to $77,509.25. Meanwhile, Ethereum fell by 0.51% to $2,507.04, BNB decreased by 0.78% to $721.82, Zcash declined by 2.48% to $1,106.14, and Monero dropped by 3.50% to $522.40. Conversely, Bittensor rose by 0.38% to $235.21, while Bitcoin Cash decreased by 0.70% to $223.38.

A decline was also recorded in gold-backed cryptocurrencies. PAX Gold (PAXG) fell by 0.52% to $4,333.14, while Tether Gold (XAUT) declined by 0.49% to $4,329.03. The CoinMarketCap 20 index saw a slight rise of 0.09% over the past 24 hours, reaching 160.55 points.

Cautious dynamics in the cryptocurrency market are being observed ahead of the FED meeting to be held this week. Against the backdrop of August inflation in the US coming in higher than expected, markets estimate the probability of the FED raising the interest rate by 25 basis points at approximately 86%. At the same time, rising tensions in the Middle East and Brent crude oil exceeding $107 are increasing pressure on risky assets.