The price of Bitcoin fell 6%, breaking below $100,000. This is interpreted as a result of deteriorating investor sentiment, as the Federal Open Market Committee (FOMC) meeting on the 30th is expected to maintain the benchmark interest rate for the first time since the Trump administration took office.
According to global cryptocurrency market tracking site CoinMarketCap, as of 5 p.m. on the 27th, Bitcoin is trading at $98,863 per transaction. It has fallen 5.97% in a day and 7.87% over the past week. The price of Bitcoin was at around $104,000 at 7:30 a.m. on the same day, but it quickly plummeted, breaking below $100,000.
Around the same time, Ethereum, the "king of altcoins," dropped 8.4% to $3,057. Additionally, Ripple fell 11.4%, Solana dropped 12.5%, and Binance Coin decreased by 6.48% compared to 24 hours prior.
This sharp decline is interpreted as being influenced by deteriorating investor sentiment ahead of the FOMC meeting, coupled with the Trump administration not presenting a concrete plan regarding cryptocurrency industry regulations. Furthermore, the Trump administration has hinted at a "tariff bomb" against Canada, Mexico, and China, leading to a dampened preference for risk assets.