FOMC releases a hawkish interest rate cut statement and expresses concerns about inflation, leading to a 10% plunge in US stocks.
Most altcoins on major CEXs and mid to large market cap meme coins on the Solana chain crashed, while some smaller on-chain projects remained resilient.
Although market sentiment is low, all of this was actually anticipated.
Bull markets have never been a smooth road; many altcoin holders face considerable pressure during bull markets.
After a long period of sideways movement or a few months of decline, a brief rise is just the norm.