Yesterday, the price of Bitcoin briefly fell below $100,000.

Yesterday, the price of bitcoin briefly fell below $100,000 and is now hovering at levels not seen since June.The latest decline follows the recent FOMC meeting, during which Chairman Powell tempered sentiment surrounding the possibility of a rate cut in December.

Before the meeting, the market estimated the probability of a rate cut at up to 96 percent. After the press conference, this indicator plummeted to below 70 percent, reflecting a shift in investor sentiment toward a risk-off stance. Since then Fear Index and Greed of the Cryptocurrency Market has moved into the "extreme fear" zone.

Bitcoin in a long-term uptrend

Liquidations of positions totaling about $915 million since the beginning of November also contributed to downward pressure on the market.

While the decline may be concerning for some investors, volatility on this scale is not unusual. In recent years bitcoin It has seen several declines of more than 30%, the most recent between January and April, when it fell from $109,000 to $74,500, before rising 70% to its current all-time high of $126,300.

Despite the current correction, Bitcoin remains in a long-term uptrend, reaching higher highs and higher lows. Short-term factors, such as renewed expectations for interest rate cuts or continued inflows into Bitcoin spot ETFs, could quickly reverse the trend and lead to a sharp price rebound.