Bitcoin's price fell 2.7% on Monday to $58,483.3, reversing a weekend rebound. This drop comes ahead of a key Federal Reserve meeting, where a potential interest rate cut is expected. Markets are split on whether the Fed will cut rates by 25 or 50 basis points, but a broader rate reduction is anticipated by year-end. Lower rates could benefit cryptocurrencies, but the market has struggled with declining retail interest.
Additionally, cryptocurrency prices were impacted by news of a second assassination attempt on pro-crypto presidential candidate Donald Trump, although he was unharmed. Major altcoins like Ethereum, Solana, and Dogecoin also saw losses.
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