Hamster Kombat

Jerome Powell

Chair

Bitcoin

Mog Coin

The Bitcoin price plunged 3% over the past 24 hours to lose the key $65K support as the US Fed kept rates unchanged and Chair Jerome Powell hinted at a September rate cut. 
Following the pullback by the <a href="https://insidebitcoins.com/news/nobel-prize-winning-economist-paul-krugman-slams-donald-trump-over-bitcoin-adoption-says-btc-useless">BTC</a> price, the <a href="https://coinmarketcap.com/currencies/bitcoin/">leading crypto</a> is trading at $64,254.51 as of 3:55 a.m. EST.&nbsp; 
<img decoding="async" src="https://assets.finbold.com/uploads/2022/06/Bitcoin-10k-scenario-in-play-as-BTC-slumps-below-19k-extending-losses-1024x684.jpg" alt="Bitcoin $10k scenario in play as BTC slumps below $19k extending losses"> 
<h2 id="span-style-font-weight-400-crypto-market-cap-slips-as-investors-adjust-their-portfolios-after-fed-decision-span">Crypto Market Cap Slips As Investors Adjust Their Portfolios After Fed Decision</h2> 
The Federal Open Market Committee (FOMC) decided to leave interest rates at 5.25% to 5.5%. But risks that the labor market weakens further is prompting the Fed to open the door to a possible rate cut next month. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Jerome Powell (Fed Chair): – "A reduction in our policy rate could be on the table as soon as the next meeting in September."<a href="https://twitter.com/hashtag/FederalReserve?src=hash&amp;ref_src=twsrc%5Etfw">#FederalReserve</a> <a href="https://twitter.com/hashtag/FOMC?src=hash&amp;ref_src=twsrc%5Etfw">#FOMC</a> <a href="https://twitter.com/hashtag/Video?src=hash&amp;ref_src=twsrc%5Etfw">#Video</a> <a href="https://t.co/ICCnljanQP">pic.twitter.com/ICCnljanQP</a> 
 — Kevin Svenson (@KevinSvenson_) <a href="https://twitter.com/KevinSvenson_/status/1818726517435670883?ref_src=twsrc%5Etfw">July 31, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
With the next potential interest rate cut delayed to September, investors are re-adjusting their portfolios to limit exposure to risky asset classes such as crypto. 
 Over the past 24 hours, the crypto market reacted as expected and suffered a more than 3% drop in valuation, according to CoinMarketCap <a href="https://coinmarketcap.com/">data</a>. Rising tensions in the Middle East added to investors adopting a more risk-off stance. 
The <a href="https://alternative.me/crypto/fear-and-greed-index/#google_vignette">Crypto Fear and Greed Index</a>, a key tool used to gauge investor sentiment in the crypto market, also dropped 9 points to a neutral score of 52 in the past 24 hours. Just a week ago, the index signaled greed in the market with a score of 68. 
<h2 id="span-style-font-weight-400-big-name-meme-coins-take-a-hit-after-bitcoin-plummets-span">Big Name Meme Coins Take A Hit After Bitcoin Plummets</h2> 
Meme coins emerged as the biggest losers in the last trading session with the sector’s market capitalization plunging 4.6% to $49.2 billion, according to CoinGecko. 
 Dog-themed token <a href="https://insidebitcoins.com/news/will-dogwifhat-sustain-its-surge-as-pepu-leads-2024-crypto-presales-challenging-wifs-dominance">Dogwifhat</a> (WIF) suffered the most after shedding 12% of its value in the past 24 hours. It’s plummeted 20% in the past week. 
<img decoding="async" class="alignnone wp-image-559384" src="https://insidebitcoins.com/wp-content/uploads/2024/08/Screenshot-2024-08-01-100714-300x143.png" alt="Top crypto losers after Fed decision" width="749" height="357" srcset="https://insidebitcoins.com/wp-content/uploads/2024/08/Screenshot-2024-08-01-100714-300x143.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/08/Screenshot-2024-08-01-100714-1024x488.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/08/Screenshot-2024-08-01-100714-768x366.png 768w, https://insidebitcoins.com/wp-content/uploads/2024/08/Screenshot-2024-08-01-100714-130x63.png 130w, https://insidebitcoins.com/wp-content/uploads/2024/08/Screenshot-2024-08-01-100714-104x50.png 104w, https://insidebitcoins.com/wp-content/uploads/2024/08/Screenshot-2024-08-01-100714-83x40.png 83w, https://insidebitcoins.com/wp-content/uploads/2024/08/Screenshot-2024-08-01-100714.png 1300w" sizes="(max-width: 749px) 100vw, 749px"> 
Biggest 24-hour losers (Source: <a href="https://coinmarketcap.com/">CoinMarketCap</a>) 
Mog Coin (MOG) was the second biggest 24-hour loser after its price fell more than 11%. Book of Meme (BOME) and Solana meme coin Bonk (BONK) also made their way onto the biggest 24-hour losers list. 
With meme coin titans plummeting, meme coin fans may turn to presale tokens that are not yet available on the open market to wait out the bearish storm. 
Among analyst favorites are projects like <a href="https://insidebitcoins.com/visit/pepeunchained" rel="nofollow">Pepe Unchained (PEPU)</a> and <a href="https://insidebitcoins.com/visit/playdoge" rel="nofollow">PlayDoge (PLAY).</a> PEPU has blasted past $6.7 million in funds raised while PLAY is within a whisker of hitting $6 million. 
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 <li style="font-weight: 400;"><a href="https://insidebitcoins.com/news/bitcoin-price-plunges-3-as-powell-hints-at-september-cut-after-fed-leaves-rates-unchanged-and-traders-rush-to-buy-99btc-with-just-days-left">Bitcoin Price Plunges 3% As Powell Hints At September Cut After Fed Leaves Rates Unchanged And Traders Rush To Buy 99BTC With Just Days Left</a></li> 
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Bitcoin Plunges 3% As Fed Keeps Rates Unchanged And Powell Hints At September Rate Cut

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