Market fluctuations continued due to the actions of the U.S. Federal Reserve System (Fed). Due to expectations of the Federal Reserve's interest rate adjustment, the price of Bitcoin has fallen below $43,000, shaking the domestic and international cryptocurrency markets. Accordingly, cryptocurrency investors are feeling anxious and are watching the direction of the market.

As of 9:32 am on the 1st, Bitcoin is trading at 58,528,000 won on Upbit, a domestic cryptocurrency exchange, down 0.36% from 24 hours ago. At the same time, on CoinMarketCap, a global cryptocurrency market data platform, it is down 1.33% to $42,433. Additionally, according to Coinglass, $40.57 million in Bitcoin was liquidated in the last 24 hours, with long (buy) positions accounting for about 68%.

At the Federal Reserve's regular meeting held on the 30th, Federal Reserve Chairman Jerome Powell decided to freeze the benchmark interest rate at the current 5.25-5.50%. However, some market experts recently predicted that the Federal Reserve would cut interest rates in March when the next meeting is held, based on the stabilization of U.S. prices. However, Chairman Powell cooled market expectations to some extent by saying at a press conference held after the FOMC meeting, “It is unlikely that we will reach a stage where we can be sure of a rate cut by March.”

Afterwards, the prices of risky assets, including cryptocurrency, turned to a downward trend. Bitcoin fell from $43,700 to $42,100, and other major cryptocurrencies such as Ethereum (ETH), Cardano (ADA), and Avalanche (AVAX) also fell by 3-4%. Additionally, Solana (SOL) fell more than 6%, falling below $100. In addition, Nasdaq and S&P 500 fell 2.2% and 1.6%, respectively, showing that the prices of risky assets are falling across the market.

In fact, according to the Chicago Mercantile Exchange (CME) Fedwatch, the probability of an interest rate cut in March was lowered from 65% previously to 34.5% after the FOMC. The market's reaction to this was stronger than expected, and Rusla Lienka, head of the Jhodler market, said, "If there is a hawkish nuance in the era of higher interest rates that last longer than expected, the stock market will adjust, resulting in capital outflow from risky assets such as Bitcoin. “This happens,” he said. In this situation, the cryptocurrency market remains unstable, and market fluctuations are expected depending on the Federal Reserve's future actions.