Bitcoin experienced its sharpest drop since early August, falling over 6% before stabilizing at under $60,000. Ether also saw a significant decline, losing more than 7% at one point. The decline follows recent gains driven by expectations of a Federal Reserve interest rate cut. Concerns include Bitcoin's dip below its 200-day moving average and potential U.S. government sales of seized tokens. Bitcoin has surged over 40% this year, though doubts are emerging about the sustainability of its rally.
