The crypto market experienced a broad correction following the Federal Reserve's decision to hold interest rates steady, as widely expected. Bitcoin slipped to a multi-day low of just under $75,000 before staging a partial recovery of roughly $1,000, yet it remained down over 1% on the day. The selling pressure had been building throughout the week, with BTC failing to hold above $79,500 on Monday and repeatedly testing support levels near $76,500 and below $76,000 ahead of the FOMC meeting.
Altcoins weakened broadly, with Ethereum sliding about 3% to $2,250, and HYPE losing the $40 support after a 2.5% decline. Other large-cap tokens including BNB, XRP, SOL, ADA, BCH, and LINK posted losses of 1-2%. The most severe damage was concentrated in selected altcoins: WLFI plunged over 16% to $0.06 following reports of a suspicious partnership, while Pi Network's PI dropped 11% to $0.175 after being rejected at the $0.20 resistance level. In contrast, RAIN defied the trend with a notable 6% surge to nearly $0.008.
The total crypto market capitalization fell by more than $60 billion from the previous day's high to $2.620 trillion. Bitcoin's dominance remained at 58%, while its market cap slipped to $1.520 trillion. The rebound appears tactical rather than fully convincing, as traders continue to assess the market's direction after the rate decision.
