Bitcoin is down 1.3% Thursday morning to $29,070 as XRP, ADA, SOL and DOGE all decline nearly 5%.
Cryptocurrency markets are selling off during U.S. morning hours Thursday, with the CoinDesk Market Index off 1.3%, led by a 1.3% decline in bitcoin and near-5% drops for altcoins like Ripple's , Solana's , Cardano's and Dogecoin .Fears of a continued surge in G7 interest rates are as good of an excuse as any for today's selloff. The Bank of Japan overnight was forced to step into the markets for the second time this week to try and arrest rising yields.
In the U.K., the Bank of England , as expected, hiked its benchmark lending rate by 25 basis points to a 15-year high of 5.25%.
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