The US Federal Reserve’s decision to lower interest rates by 25 basis points earlier today resulted in a mixed reaction within the crypto market, specifically for Bitcoin (BTC). While this move is typically seen as bullish for risk-on assets, it has led to a significant downturn in BTC price. As predicted by analysts such as Merlijn The Trader, the cryptocurrency experienced a notable dip after every FOMC meeting this year. 10%, 6%, and 8% were the percentages of drops witnessed on each occasion. Today’s drop follows a similar pattern, reaching almost $109,000 from its previous level around $112,000 before the meeting. However, a rebound in the following hour brings BTC back above $110,500 according to some analysts. The reason for this dip may also be linked to the CME gap that was filled after the weekend rally, opening up an opportunity for further gains. 700 million dollars worth of liquidations have been recorded since the drop, with a significant portion occurring in the past four hours. Over 151,000 traders have seen their positions liquidated, while the largest single liquidation on Bybit reached $11 million. Altcoins such as Ethereum (ETH), XRP, and many other smaller coins saw corresponding corrections, impacting the overall market value.