The cryptocurrency market experienced a decline of over 1% in the last 24 hours, driven by bearish sentiment ahead of the Federal Open Market Committee (FOMC) meeting. Bitcoin (BTC) saw a drop to $112,255 before a slight recovery to $112,844, while Ethereum (ETH) decreased by more than 2% to $4,016.
In a significant development, France is considering a proposal to incorporate Bitcoin and stablecoins into its financial reserves, potentially allocating 2% of its reserves to Bitcoin. Meanwhile, Western Union has chosen Solana for its stablecoin settlement system, with the USDPT stablecoin expected to launch in 2026. In contrast, U.S. stock markets rallied, with the S&P 500 and Nasdaq reaching record highs ahead of the Federal Reserve's anticipated rate cut decision.
Crypto Market Dips Over 1% as FOMC Meeting Looms; France Eyes BTC Reserves
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