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Price Drop: Bitcoin is currently trading around $57,263, which is a decrease of about 4.8% in the last 24 hours. It recently fell below the $60,000 support level. [Source: CoinDesk]
Possible Reasons for Drop: This price movement comes ahead of a decision by the US Federal Reserve, which could impact the broader market. Additionally, some analysts predict Bitcoin could drop further to $50,000. [Source: CoinDesk, Forbes]
Market Outlook: The overall crypto market is down about 6% in the last day. This follows what has been the worst month for crypto since the FTX crash. [Source: CoinDesk]
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