Institution: Cryptocurrencies plummet, market still digesting last week's Powell rate cut hint
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Cryptocurrencies are generally falling, with Bitcoin breaking below the $60,000 mark, dropping to a low of nearly $58,000; in addition, Ethereum experienced a sharp decline, with intraday losses expanding to 10%. Institutional analysis suggests that major tokens are digesting the boost received last week from Federal Reserve Chairman Powell's hint that the Fed will cut benchmark interest rates from a more than 20-year high
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