Bitcoin Price Drops to $65,000, Lowest in Nearly a Month

Bitcoin's value plummeted to $65,005, its lowest in almost a month, due to the Federal Open Market Committee's (FOMC) decision to leave interest rates unchanged and reduce them only once in 2024. This shift in market sentiment led to:

- Increased real yields, negatively impacting bitcoin
- Profit-taking and new short positions in the crypto futures market
- $200 million in losses for over 75,000 traders
- Declines in altcoin values, with a few exceptions like Ton and UNI
- A $50 billion drop in total crypto market capitalization

However, prices slightly rebounded on Sunday afternoon, with most altcoins seeing a minor increase.

Technical writer with immense interests in the crypto space. Web 4 enthusiast

It's fascinating to see how macroeconomic decisions ripple through the crypto market. The recent dip highlights the volatility and interconnectedness of global finance. Excited to see how Bitcoin and altcoins will adjust in the coming weeks!