Cryptocurrency Massacre! Panic Spreads, Major Currencies Collapse: Bitcoin Drops Below $95,000

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The cryptocurrency market has experienced a severe downturn, with major currencies plummeting and investor panic spreading. The leading cryptocurrency Bitcoin has fallen below the critical $95,000 mark, triggering massive liquidations and significant losses across the market. This collapse has evaporated billions of dollars in market value, leaving traders and investors in shock.

Bitcoin's Sharp Decline

Bitcoin's price has dropped to $93,957, significantly down from a recent high of $108,000. The sudden drop is attributed to the Federal Reserve's hawkish stance on monetary policy for 2025, leading to increased market volatility.

The Federal Reserve announced only two rate cuts in 2025, fewer than the expected four, prompting the market to reassess expectations, resulting in a sell-off in both the stock and cryptocurrency markets.

Altcoins Suffer Massive Losses

The impact of Bitcoin's decline has affected the entire cryptocurrency market. Major altcoins such as Ethereum (ETH), Solana (SOL), Binance Coin (BNB), ADA, XRP, and Dogecoin (DOGE) have all experienced significant declines.

As of the time of writing, ETH, SOL, and XRP have dropped nearly 14% in the past 24 hours, trading at $3,182, $181, and $2.07, respectively. The biggest losers among the top tokens are ADA and DOGE, with declines between 18% and 21%, trading at approximately $0.80 and $0.28, respectively.

The total liquidation amount has exceeded $1.75 billion, highlighting the extent of the sell-off. Meme coins like Shiba Inu and Pepe have also seen substantial declines, further exacerbating bearish sentiment.

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