"Crypto Crash: Bitcoin Drops Below $102K Ahead of FOMC Meeting"

Cryptocurrency markets experienced a significant downturn on January 27, with Bitcoin (BTC) and major altcoins witnessing substantial declines. The broader crypto market cap fell by over 3% intraday, reaching $3.47 trillion, while the total market volume increased by 21% to $106.54 billion. The uncertainty surrounding the upcoming FOMC meeting on January 29 contributed to the cautious investor sentiment.

Bitcoin price dropped to the $101K level, with a 3% decline in the past 24 hours. The coin's 24-hour low and high were $100,721.57 and $105,438.64, respectively. Despite the waning price action, Bitcoin's dominance increased by 0.36% intraday. Leading crypto market analyst Ali Martinez maintained a bullish perspective on Bitcoin's future, highlighting a $122,000 price target.

Ethereum (ETH) price pulled back by 5% in the past 24 hours, trading at $3,172. The coin's intraday low and high were $3,161.93 and $3,359.31, respectively. Ethereum recorded nearly $30 million in liquidations, aligning with the broader market trend. However, weekly net inflows totaled $139,32 million for Ethereum ETFs as of January 24, indicating a mixed market sentiment for the asset.

XRP price fell by nearly 5% in the past 24 hours, resting at $2.99. The crypto's intraday low and high were $2.95 and $3.14, respectively. The fall below $3 sparked severe concerns among investors, with XRP recording nearly $5 million in liquidations as of Monday.

SOL price chart showcased a 10% drop in value at the time of reporting, reaching $233.18. Solana's 24-hour low and high were $233.23 and $259.63, respectively. The cryptocurrency has followed the broader market trend, recording over $10 million in liquidations.

Meme cryptocurrency prices also took a