Bitcoin Drops 8% in Biggest Single-Day Plunge Since FTX as Traders Cautious Ahead of Fed Meeting

• Bitcoin fell 8% yesterday in its biggest single-day drop since FTX's collapse, leaving traders cautious • Bitcoin price sank as low as $60,951 early Wednesday before rebounding to $63,154 currently • There's a Fed meeting today where Jerome Powell will likely announce interest rates staying the same • Investors pulled $480 million out of Bitcoin spot ETFs over the past 2 days, per CoinGlass • Grayscale Bitcoin Trust saw $1B in redemptions but offset by inflows into new spot BTC ETFs