The price of Bitcoin dropped below $100,000, reaching an intraday low of $99,997 per coin. The entire crypto market also experienced a decline of 5.74% in the past 24 hours, with various coins suffering heavy losses. The drop in Bitcoin was attributed to the US Federal Reserve's hint at a slower pace for future rate reductions. While many leading coins faced minor setbacks, meme coins like PNUT and POPCAT experienced significant declines. Despite the slump, global trading volume increased by 31% to reach $248.41 billion in the last day. The derivatives market also saw $671.52 million in positions being wiped out in 24 hours, primarily affecting long positions in BTC, ETH, XRP, DOGE, SOL, and LTC. This dip serves as a reminder of the volatility of the market, with even slight macroeconomic changes causing wild swings.



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