Bitcoin (BTC) has witnessed a significant drop, falling below $88,000 after the recent FOMC meeting. Initially, Bitcoin’s price held steady before declining on Wednesday due to external market pressures, including trade tariff threats from Trump.

Bitcoin’s Recent Fall

After reaching over $95,000 during the previous weekend, BTC faced a downturn, plummeting to approximately $88,000. Despite initial efforts for a recovery that took its value up to around $91,000, the BTC price continues to struggle, recently stabilizing between $88,000 and $89,000. The market cap of Bitcoin has now decreased to $1.750 trillion, marking a dominance of just 57.4% in the cryptocurrency market.

Pi Network Hits New ATL

Pi Network’s PI token is also facing challenges, marked by a new all-time low (ATL) recently. Other major cryptocurrencies like Ethereum and XRP are witnessing losses, with Ethereum dipping below the $3,000 mark and XRP under $1.90. The overall cryptocurrency market has lost over $60 billion in total value.

Cryptocurrency Market Overview

Source: QuantifyCrypto