Bitcoin experienced a significant price drop to $92,563 after reaching a record high of $108,000, driven by the Federal Reserve announcement on interest rates, profit taking, and stop-loss triggers.
This volatility follows a 140% year-to-date surge fueled by large investors.
Concerns about inflation and slower monetary easing contributed to the cautious market sentiment, impacting other cryptocurrencies like Ethereum and XRP.
Future predictions are mixed, ranging from a potential correction to further price increases depending on government actions and increased institutional adoption.
The overall cryptocurrency market shows a cautious outlook influenced by both economic factors and potential legislative changes.
