Bitcoin and Crypto Prices Plunge on Fed Rate Fears and Record Outflows

• Bitcoin dipped below $63,000 due to record $640M outflows from Grayscale's GBTC and investors trading cautiously ahead of potential Fed interest rate changes

• The drop has affected other major cryptocurrencies like Ether, Solana, and memecoins FLOKI, Bonk, and Dogecoin with double-digit losses

• The Bank of Japan raised its key interest rate for the first time in 17 years to tackle high inflation

• Over $440M in liquidations of crypto futures traders betting on higher prices contributed to the crash

• Historical data shows pre-halving price drops, with analysts warning of a 38% Bitcoin drop in the 2-4 weeks before the April 19 halving