Market sell-off of Bitcoin and altcoins triggered by Fed chair changes and AI bubble concerns

Bitcoin’s price correction to $85,000 and Ether’s drop to $2,900 have raised concerns among traders. With $527 million in leveraged positions liquidated, many are adopting a more cautious approach.

The decline highlights apprehensions regarding consumer spending, as surveys show 41% of Americans plan to cut back during holidays, alongside increasing fears of an AI investment bubble.