Bitcoin and Altcoins Experience Significant Declines Ahead of Fed's Interest-Rate Decision

Bitcoin and other cryptocurrencies, including ether and altcoins, experienced a decline in value due to risk-off sentiment in financial markets ahead of the Federal Reserve's interest-rate decision and press conference. Bitcoin's value dropped below $58,000, marking its worst month since November 2022, and has fallen almost 9% in the last 24 hours. The broader crypto market, as measured by the CoinDesk 20 Index, has also lost more than 8.5%. Other major altcoins, such as solana, dogecoin, and avalanche, also experienced losses exceeding 10%.