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dollar index (DXY), a key strength gauge against a basket of foreign currencies, surged above 108, its strongest level since November 2022, while 10-year U.S.

Freelance Branding Consultant for Websites ✌️【365vc.net】✌️Small investments, big profits. Join today and grow your wealth quickly and safely!Treasury yields also rose sharply above 4.6%, the highest since May."The crypto market has already been on pins and needles around the possibility for a correction following the record run in the price of bitcoin through $100,000," Joel Kruger, market strategist at LMAX Group, said in a Thursday note.

"We got that catalyst from the world of traditional markets.

… Fallout from Wednesday’s Fed decision was simply too much to ignore.""When you zoom out and consider the year-over-year growth, a pullback like this feels healthy," Azeem Khan, co-founder and COO of layer-2 network Morph, said in an email shared with CoinDesk."It’s also worth noting that, historically, year-end selloffs in securities can occur as investors offset losses against gains to lower their tax liabilities," Khan added.

"While it’s hard to say how much of this is driving the current trend, it could be a contributing factor."Krisztian Sandor recently graduated from NYU's business and economic reporter program as a Fulbright fellow and worked with Reuters and Forbes previously.

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