The crypto market loses $90 billion in just one hour

The cryptocurrency market lost about $90 billion of its value within an hour, in one of the fastest sudden crashes this year.
The total market capitalization declined from approximately $3.11 trillion to about $3.02 trillion before stabilizing later near the $3.03 trillion level.
This decline came amid volatility in the crypto market following the US Federal Reserve's decision to cut interest rates by 25 basis points. A rate cut is usually seen as a supportive factor for high-risk assets like Bitcoin, as it reduces investors' appetite for holding dollars and encourages seeking higher returns.
However, this time, the cryptocurrency market did not react as expected, with most cryptocurrencies recording collective declines, and Bitcoin dropping about 2.33% over the past 24 hours to $90,368.
$BTC ‌
$SOL ‌$BNB ‌
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