Bitcoin’s price run after the Fed’s rate cut was halted at $64,000 and the asset was pushed down by around a grand.

The altcoins are also in the red on a daily scale, with the biggest corrections coming from the likes of TON, AVAX, and NEAR from the larger caps.

BTC Down to $63K

Bitcoin started the business week with a correction that drove it from over $60,000 to under $58,000 on Monday. It was expected to be a highly volatile week for the asset as the US Federal Reserve had a meeting on Wednesday to discuss a reduction in the key interest rates.

In the hours ahead of the event, BTC skyrocketed to over $61,000 but went on a rollercoaster once the US central bank indeed cut the rates by 0.5% on Wednesday. Nevertheless, the bulls prevailed and initiated another massive leg-up that drove the cryptocurrency to just over $64,000 yesterday, which became its highest price tag in over three weeks.

However, the asset failed to maintain its run and has declined by a grand since then, currently trading around $63,000. Additionally, there are other signs that the run could be over for now, and BTC could drop even further.