Bitcoin slips below $88K as crypto market takes a $2.9T hit
Business
Bitcoin dropped to $87,677 after the US Federal Reserve kept interest rates steady, sparking a massive sell-off that wiped $2.9 trillion from the crypto market and sent gold prices soaring.
Why does this matter?
If you're watching crypto or thinking about investing, this is a big shake-up.
Bitcoin's been bouncing between $86K and $91K lately, with traders eyeing key levels at $89K (support) and $90K (resistance).
A break above or below could mean more wild moves ahead.
What's behind the moves?
The Fed's rate pause was expected by most, but it still triggered a sell-the-news reaction as investors got cautious—plus some shifted cash into gold instead.
Long-term holders also unloaded 143,000 BTC in just 30 days—the fastest sell-off since August 2025—adding to the volatility.