In the early morning of the 19th, the Federal Reserve’s last interest rate decision for 2024 was implemented, and there was no unexpected 25 basis point rate cut; but Federal Reserve Chairman Powell sounded "hawkish" in his subsequent speech, and there were voices calling for a slowdown in the pace of rate cuts; subsequently, the Federal Reserve’s dot plot showed that the number of rate cuts expected in 2025 will drop from 4 in September to 2 this month; the median interest rate expectation also rose from 3.4% in September to 3.9% this time.
Subsequently, Bitcoin led the market to begin a downward trend until a stampede and a crash. As of press time, Bitcoin fell from a high of 108,351 to a low of 92,232, a drop of 14.8%; ETH fell from a high of 4,106 to a low of 3,101, a drop of 24.4%; altcoins basically fell by 40% or in half, and the market was once again bloodbathed!