Why is the crypto market down today?

The crypto market dropped after Bitcoin immediately turned away from its all-time highs above $108K ahead of the Fed rate decision.

The cryptocurrency market took a hit today, with the total market capitalization dropping by around 3% to about $3.65 trillion on Dec. 18.

This sudden plunge has left many investors scratching their heads, trying to understand the core catalysts behind this downturn and whether more losses are on the horizon.