Bitcoin has declined by 2% in the last 24 hours, defying investor expectations of a rate cut by the Federal Reserve in its upcoming FOMC meeting. This downturn highlights the ongoing volatility in the cryptocurrency market, which remains susceptible to macroeconomic factors and regulatory uncertainties.

Despite the anticipation of a more favorable monetary policy, the market's reaction suggests a lack of confidence among investors. This pessimistic sentiment underscores the fragile state of the crypto industry, which continues to grapple with regulatory scrutiny and market instability.