With all eyes on the upcoming Federal Reserve rate decision, Bitcoin price experienced a lot of volatility throughout the day but stayed on a downward trajectory. The altcoin market, closely following the bellwether cryptocurrency did not fare any better with the majority of the top 100 cryptocurrencies in the red.

Bitcoin price is currently hovering around the $58,000 mark, however, analysts indicate that BTC could risk another downfall to $55,000.

Bitcoin drops as traders eye the Fed Bitcoin (COIN:BTCUSD) fell to around $57,823, dropping 2.3% in 24 hours, after holding above $60,000 over the weekend. Ether (COIN:ETHUSD) slipped 1.4% to around $2,

Bitcoin's 3% drop to $58,271 comes amid investor uncertainty following the Trump assassination attempt, leading to over $116M in liquidations. All eyes now turn to the Fed’s interest rate decision, with markets split between a 25 and 50 bps rate cut,