The post Crypto Market Update: Traders Reduce Risk as Bitcoin Tests Key $100K Support appeared first on Coinpedia Fintech News
The crypto market is ending the week on a weaker note. Bitcoin price has slipped to around $99,984 and is struggling to hold the key psychological level of $100,000. Over the last 30 days, Bitcoin has dropped nearly 18%, ending what was earlier a strong bullish phase. The main reason behind this decline is the recent message from the US Federal Reserve. The Fed hinted that interest rate cuts may slow down, which immediately pushed the US dollar higher. When the dollar strengthens, investors tend to exit risky investments, and cryptocurrencies are usually the first to feel that impact.
Ethereum is also under selling pressure, trading near $3,217. Market indexes such as the CoinDesk 5 Index and the CoinDesk 20 Index show a similar trend, both down around 3% in the last 24 hours. Overall, the market is cautious and traders are avoiding aggressive deci
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