Bitcoin the flagship crypto asset has dropped below its psychological barrier of $100,000 following Fed cut rates announced by the Federal Open Market Committee.
Bitcoin will be falling below the $100,000 price level for the first time since the first week of December after breaching the $100,000 price level for the first time within the same period.
The Total market capitalization of all crypto assets dropped by 4.7% following the Fed cut rates announcement as Bitcoin the flagship asset dropped below $100,000
At the time of the report, Bitcoin has slightly recovered to $101,652 gaining nearly $2000 from the $100,000 mark.
The FOMC chairman Jerome Powell yesterday announced the new data on the Federal cut rate. The Committee has decided to cut the Federal Fund rates by a 25-basis point.
