Bitcoin's price dropped to $109,200 following the Federal Reserve's decision to cut interest rates by 25 basis points and end quantitative tightening. The rate cut, announced by Fed Chair Jerome Powell, has raised macroeconomic concerns, impacting market sentiment. In other developments, Circle has launched a public testnet for Arc, its new blockchain focused on payments, with South Korea's KRW1 stablecoin set to roll out on this platform. Additionally, Bitwise's $BSOL ETF attracted $69.5 million in net inflows on its first day, signaling strong investor interest.