Hawkish remarks from the Federal Open Market Committee's late July meeting have — for the moment — put the kibosh on the crypto market's modest attempt at a rally on Wednesday.

"A majority of participants judged the upside risk to inflation as the greater of these two risks," read the Fed minutes regarding the committee's discussion of prices versus employment. "Regarding upside risks to inflation, participants pointed to the uncertain effects of tariffs and the possibility of inflation expectations becoming unanchored."

Crypto prices gave up some of their daily gains just following the release of the minutes, with bitcoin (BTC) slipping from a 0.7% advance to just barely green over the last 24 hours at $113,300.

Having one of the best sessions of the majors, ether (ETH) slipped from ab

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