Crypto markets experienced a dramatic sell-off overnight, with Bitcoin plummeting over $4,000 to just under $107,000. This triggered significant drops across the cryptocurrency landscape, impacting altcoins like BNB, SOL, DOGE, LINK, ADA and many others. 2023 has started with a roller coaster ride for Bitcoin as it experienced sharp swings earlier this week after hitting highs of around $116,000 on Monday and Tuesday before plummeting back down to $112,000. A key driver behind the recent market volatility was the US Federal Reserve’s decision to cut interest rates by 25 basis points. While initially positive news from this development provided a temporary boost to Bitcoin, it eventually lost momentum and ended the week with an overall decline below $106,000 before Monday’s bearish move.