Bitcoin's price plummeted below $99,000 after a brief surge past $108,000, following the Federal Reserve's interest rate cut and comments suggesting a halt in future reductions. Altcoins like XRP, AVAX, and DOGE experienced even steeper declines, contributing to a drop in the total crypto market cap from over $3.95 trillion to under $3.6 trillion. Despite some recovery, many cryptocurrencies remain significantly down.