Bitcoin dropped below $62,500 on Monday for the first time in over two weeks, amid predominantly bearish sentiment in the market. Both the US Federal Reserve and the Bank of Japan kept their interest rates unchanged, in line with market expectations. BTC had reached a high of $67,000 the previous week following better-than-expected US inflation data. The total cryptocurrency market capitalization stands at $2.275 trillion, with 24-hour trading volume at $60 billion. Several altcoins also suffered significant losses, with RAIN plummeting by double digits, while ZEC, XLM, and HYPE declined by up to 8%.
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