The crypto momentum we've seen all fall and early winter hit a big snag over the past 24 hours after the Federal Reserve cut interest rates. That may sound like a good thing on the surface, but as part of the cuts the Fed also said it expects inflation and unemployment to rise more than expected in 2025. Add it up and investors are selling risk assets today.
Bitcoin ($BTC ) is the biggest loser, falling 6.2% in the past 24 hours as of 3 p.m. ET and dropping below the $100,000 level. Ethereum ($ETH ) is down 9.7% in that time to $3,350 and Dogecoin ($DOGE ) is off 16.8% to $0.3032.
