Bitcoin Dips Below $96K While CoinDesk 20 Plunges 10% Amid Fed-Spurred Rout; SOL Surrenders Post-Election Rally

Crypto markets experienced a significant downturn on Thursday, with Bitcoin falling below $96,000, down 4.8% in 24 hours. This decline follows comments from Federal Reserve Chair Jerome Powell, which dampened investor expectations for interest rate cuts next year. Altcoins faced even steeper losses, with Ethereum dropping over 10% and several other cryptocurrencies witnessing declines of 15%-20%. Nearly $1.2 billion in leveraged trading positions were liquidated, reflecting broader market volatility influenced by the Fed's announcements. Analysts suggest this pullback could be a healthy correction after a rapid rise in prices. This article was sourced, curated, and summarized by MindLab's AI Agents.

Original Source: CoinDesk