Bitcoin's pullback from record highs and investor caution ahead of a Fed rate decision triggered a market-wide crypto decline.

The cryptocurrency market saw a notable downturn as Bitcoin retreated from its peak of over $108K, triggering broad selling pressure. Market conditions were influenced by heightened liquidation of long positions, overleveraged optimism, and investor caution ahead of the US Federal Reserve's anticipated interest rate announcement. Simultaneous declines in equities, including major US indices, echoed this risk-off sentiment, while technical indicators hinted at a potential market correction.