Bitcoin price crash: Why did it sink to a 6-month low today? What’s happening with crypto markets?

Core Insights - Bitcoin's price has dropped 6.55% in the last 24 hours, currently trading just above $95,000, marking its lowest point since May [1] - Over the past month, Bitcoin has lost approximately 20% of its value, driven by uncertainty regarding Federal Reserve interest rate cuts and a selloff in tech and crypto stocks [2][6] Federal Reserve Rate Cuts - The Federal Reserve is expected to announce its decision on interest rates next month, with three potential outcomes: increase, hold, or cut rates [3] - Recent market sentiment has shifted, with only a 50% chance perceived for a rate cut in December, down from a 90% chance earlier in November, contributing to Bitcoin's decline [6] Tech and Crypto Stock Selloff - Bitcoin is categorized as a risk asset, and its price volatility is mirrored in the performance of tech stocks, particularly those in the AI sector [7] - Major tech stocks experienced significant declines, which may lead investors to withdraw from cryptocurrencies in favor of safer investments [8] Bitcoin's Yearly Performance - Bitcoin started the year above $94,000, peaked at over $126,000 in October, but has since faced a steady decline, currently up only about 2.8% for the year [10][12]