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Bitcoin Drops and Crypto Market Slumps as Federal Reserve Rate Cuts Loom
Bitcoin (BTC) started the week with a 3% drop, trading below $58,400, while the CoinDesk 20 index was down 5%. The decline came after a weekend of trading above $60,000, fueled by positive U.S. data. However, the crypto market slumped as Asian exchanges opened ahead of the Federal Reserve's anticipated rate cuts.