Major Cryptocurrencies Plunge as Market Enters Fear Zone Following Fed Rate Cut
Leading cryptocurrencies declined sharply alongside stock futures after the Federal Reserve implemented a 25-basis-point interest rate reduction.
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The cryptocurrency market experienced significant losses following the Federal Reserve's rate cut decision. Bitcoin fell 1.01% to $114,547, while Ethereum dropped 3.09% to $4,351. Other major cryptocurrencies also declined, with Dogecoin suffering the largest loss at 6.95%.
Market liquidations exceeded $520 million in 24 hours, and the Fear & Greed Index shifted from neutral to fear territory. Despite current volatility, both Bitcoin and Ethereum have shown strong quarterly performance.
Analysts predict a potential 1-2 week correction period before a possible rally, with some forecasting Bitcoin could reach $150,000 by Q4 end. Meanwhile, gold achieved new all-time highs, demonstrating different asset class behaviors.
Original Article
benzinga.comhttps://www.benzinga.com/crypto/cryptocurrency/25/09/47780636/bitcoin-ethereum-dogecoin-xrp-dive-as-crypto-enters-fear-zone-analyst-says-btc-always-follo