The total crypto market cap has dropped by $72 billion, now standing at $1.98 trillion, driven by uncertainty over upcoming US interest rate cuts. With the Federal Open Market Committee (FOMC) meeting this week, there’s a 59% chance of a 50 basis point cut and a 41% chance of 25 basis points. The market could see further declines to $1.92 trillion if clarity is not achieved soon.

Bitcoin (BTC) has fallen to $58,261, a 3% drop in the last 24 hours, struggling to sustain above $60,000. It’s approaching a critical support level at $57,270, with $61,725 as the upper boundary. If BTC holds above this support, it may avoid further declines.

In other news, stablecoin issuers have blacklisted wallets linked to the Lazarus Group, freezing $1.65 million worth of assets. Additionally, Russia plans to build 15 new crypto-mining data centers, starting with two in Mikun and Sindor.