In accordance with CryptoDaily, the cryptocurrency markets have experienced a significant drop following renewed concerns about inflation from Federal Reserve officials. Bitcoin (BTC) fell below $100,000 on Friday, reaching a low of $96,351, and is down over 6% in the past 24 hours. Ethereum (ETH) dropped over 10%, while Solana (SOL), Ripple (XRP), and other major tokens also saw sharp declines. Analysts attribute the sell-off to a hawkish stance from the Fed and a broader selloff in traditional markets. Bitfarms announced plans to shut down its Bitcoin mining operations and pivot to AI, citing increased competition in mining and potential profitability in AI data centers. Market analytics suggest the crypto market has entered a confirmed bear cycle, with ETF outflows and whale selling intensifying downward pressure.
Bitcoin Falls Below $100,000 Amid Fed's Hawkish Tone and Market Sell-Off
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