Flow (FLOW) Down 13% in Last 7 Days: Here’s Why

Flow (FLOW) is down 13% to $1.84, and hasn’t reversed its decline, possibly due to September rate hikes. FLOW failed to break its downward trend and is still flashing red near $2.19. However, the reason could be the Fed’s additional calls for rate hikes in September.

Flow (FLOW) and other cryptocurrencies associated with gaming and NFT have suffered significant losses in the last week. The price of FLOW, the token that powers everything on the layer-1 blockchain flow, has dropped by more than 23% in the last week, according to CoinMarketCap data.

Following the integration of Instagram earlier this month, Flow (FLOW) has been upbeat and has seen significant improvements.

Flow (FLOW) Down 13%

FLOW is currently trading at $1.84, down 3.37% in the last day after a week of losses. Moreover, the coin has lost over 13% in seven days. According to CoinMarketCap data, FLOW was still down 95.50% from its all-time high of $46.16 in April 2021.

On the previous day, Flow decreased by 0.09%. Flow (FLOW) is now ranked 30th, with a market capitalization of USD 2,272,856,666. There are currently 1,036,200,000 FLOW coins in circulation, and the maximum supply is unknown.

Flow Price Chart – Source: Tradingview

Following a significant upward movement, the FLOW price has begun to decline under the bearish impact on the daily price chart. As a result, the FLOW bulls appear to be returning to defend the coin against the intense selling pressure.

However, BTC’s most crucial cryptocurrency consistently puts downward pressure on FLOW prices. This is one of the primary reasons for the FLOW price’s bearish surge, which cannot be overlooked.

FLOW Under Pressure amid ؓBearish Market Sentiment

Since the start of the day, the cryptocurrency market has been sending mixed signals as it continues to bearish bias from its earlier gains. The cryptocurrency markets slip for the second day in a row following the confirmation of the date of Ethereum’s upgrade, The Merge.

Ethereum has slipped by more than 5% in the last 24 hours, while Bitcoin, Polkadot, Solana, and Shiba Inu have also traded bearishly significantly. As a result, the slowdown in the crypto market may add further bearish pressure on the FLOW coin.

Federal Reserve Powell Predicts ‘Some Pain’ as the Fed Battles Inflation

Investors kept a close eye on the market in anticipation of Fed Chairman Jerome Powell’s monetary policy address this week.

• Federal Reserve Chairman Jerome Powell said on Friday that the government would “use its tools vigorously” to combat inflation, which is currently at or near its highest level in over four decades.
• Powell warned against “prematurely easing policy” in his yearly speech in Jackson Hole, Wyoming, because higher interest rates are expected to last “for some time.”
• The comments are being made as indicators suggest inflation may have peaked but shows no clear signs of declining. The Fed, according to Powell, will not be persuaded by data from the past month or two.

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