Bitcoin and other crypto assets experienced a sharp decline as a result of a market-wide sell-off following the Federal Reserve's hawkish stance at the FOMC meeting. The Fed cut its benchmark interest rate as expected but projected only two rate cuts in 2025, causing analysts to adjust their rate cut forecasts. The probability of a rate cut at the Fed's January meeting decreased, leading to a drop in stock and crypto markets. Bitcoin briefly dropped below $100,000 but recovered, while other cryptocurrencies such as Ethereum, Ripple, and Dogecoin also declined. Meme tokens, including Popcat, Peanut the Squirrel, Pepe, dogwifhat, Bonk, and Floki, all experienced significant losses.



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