Bitcoin Drops to $57,700 as Market Reacts to Fed Rate Hike 🚨

Bitcoin fell to around $57,700 in early trading on Wednesday, as the crypto market dropped around 9%.  The declines came amid risk-off sentiment ahead of the Fed's interest rate decision later today. Ether dropped below $3,000 while altcoins like Dogecoin and Solana recorded sizable losses. Bitcoin saw its worst monthly performance in April since November 2022. Analysis from 10x Research estimates further downside pressure toward $52,000 based on outflows from the U.S. spot exchange-traded funds.