Cryptocurrency Market Sees Sharp Declines Amid Volatility

The crypto market is experiencing a downturn, with most altcoins and major tokens following Bitcoin's downward trend. The total cryptocurrency market cap has dropped by nearly $200 billion since Wednesday morning.

Bitcoin's price volatility spiked ahead of and after the Federal Open Market Committee (FOMC) meeting, with the cryptocurrency falling by $3,000 before the event. After the Federal Reserve decided to leave interest rates unchanged, Bitcoin briefly bounced back to $72,000 but then dropped again due to hawkish comments from Fed Chairman Jerome Powell.

Altcoins such as Ethereum, XRP, and Solana have also experienced significant declines, with some losing up to 7% of their value. However, SIREN has managed to defy the market slump, surging by 90% in the past 24 hours to reach a new all-time high of over $1.70.