Back in August 2023, the Bitcoin price was below 30K and everyone was happy(because the price increased a lot, in comparison to October 2022, when it was 17K).
Now, the Bitcoin price is in the 50K-57K range(it went down to 50K, but it went back up to 57K) and most people are whining and bitching about it.
That is understandable because people may have bought bitcoin at a higher price than the current price, for example many people bought bitcoin at a price above 60k, 70k$. Not everyone has the opportunity to buy bitcoin for less than $30k and be able to hold it now.
The US stock markets are down(due to bad data about US employment rates). The situation in the middle east is a problem(Iran threatens to attack Israel). One guy said that the financial markets are like toddlers. They kick and scream and panic, but eventually they calm down. Soon the US Federal Reserve will start lowering the interest rates and the markets will go up. The situation in the Middle East will calm down as well(probably next year). There's nothing to worry about.
As far as I know, the stock market, and cryptocurrency...are falling because experts are making predictions and they are worried about a global economic recession.
The Fed's interest rate cut is a good sign but could also signal the beginning of an economic recession. In the past, every time the Fed lowered interest rates, the world economy entered a recession and did not move in a positive direction as we thought.
The Fed keeping interest rates at high levels for a long time is no different from a double-edged sword, it may reduce inflation but will also push the economy into recession.