Despite some positive economic trends, Bitcoin’s price experienced a sharp drop to below $108,000 in the last 12 hours, struggling for recovery. Major altcoins like Ethereum (ETH) and Ripple (XRP) followed Bitcoin into the decline, while ZEC and TRUMP made notable gains.

BTC Falls Despite Rate Cut

This tumultuous week began positively for Bitcoin, as it approached $116,000 earlier in the week. However, it faced a painful rejection just below that resistance. Following a brief stabilization around $112,000, Bitcoin plummeted after the US Federal Reserve announced a 25 basis points interest rate cut, resulting in a further drop to nearly $108,000.

Subsequent positive news regarding tariff reductions on Chinese goods by Trump led to an initial recovery above $111,500 for Bitcoin, but that surge was short-lived.

Recently, the overall cryptocurrency market cap dropped to approximately $3.810 trillion, with ZEC surging approximately 9% to the $350 mark and TRUMP also experiencing significant increases in value.

BTCUSD BTCUSD. Source: TradingView

Performance of Major Altcoins

Many larger-cap altcoins like ETH and XRP have seen declines of nearly 3% and 3.5%, respectively. In contrast, altcoins such as ZEC, TRUMP, and M are defying trends with remarkable upward movements.