Bitcoin (BTC) and the broader cryptocurrency market suffer as a result of a U.S. tech snafu

<p>The interconnectedness between cryptos and US equities markets was clear on Thursday, lending credence to the IMF and the Bank of England's recent concerns...</p> <p>The crypto market's relief following FED Chair Powell's comments on Tuesday was fleeting. A two-day winning streak came to an end on Thursday, as the NASDAQ fell 2.51 percent, dragging on the crypto majors.</p> <p>On Thursday, hawkish comments from FOMC members knocked on risky assets. A handful of FOMC members discussed the need for a rate hike in March. Some of them discussed the necessity for more than three rate hikes this year to keep inflation under control. The remarks contrasted with FED Chair Powell's speech, which had bolstered riskier assets earlier in the week.</p> <p>Bitcoin (BTC) declined 3.06 percent to $42,576 at the end of the day. In other news, Chainlink (LINK) fell 7.05 percent, while Cardano's ADA fell 6.09 percent. Ethereum (ETH) and Litecoin (LTC) fared no better, ending the day down 3.89 percent and 3.66 percent, respectively.</p> <p>The crypto market cap fell from a day high of $2,119 billion to a low of $1,992 billion on Thursday before recovering partially.</p> <p>Despite the decline, the Bitcoin Fear & Greed Index stayed steady at 21/100 and in the negative. A level in the red that is near to or equal to zero indicates investor concern about additional price decreases.</p> <p>Increased Regulatory Concerns Due to Interconnectedness with US Markets</p> <p>The IMF expressed alarm earlier this week about the interconnection of cryptos and global financial markets. The movements in the US financial markets and the cryptocurrency market on Thursday revealed more proof of their interconnectivity. The IMF's remarks followed the Bank of England's concerns about cryptos and UK financial stability.</p> <p>Movements in global financial markets and the crypto market will almost certainly offer regulators additional motivation to move fast towards a worldwide regulatory framework for the crypto market.</p> <p>Today's Agenda<