The cryptocurrency market is experiencing a significant downturn, with Bitcoin (BTC) breaking through a crucial support level. This shift is attributed to several key factors, including the Federal Reserve's revised interest rate predictions, a strengthening US dollar, and concerns over the approval process for Ethereum (ETH) Exchange-Traded Funds (ETFs).

The Federal Reserve's decision to raise interest rates has led to a decrease in investor appetite, causing a ripple effect in the crypto market. Additionally, the US dollar has gained strength, which may lead to further sales in risk markets. The approval process for ETH ETFs has also been delayed, causing uncertainty and contributing to the market's decline.

The Securities and Exchange Commission (SEC) Chairman's recent statements have also had a negative impact on the market. The Chairman suggested that many cryptocurrencies may be considered securities, which could lead to increased regulation and legal issues. This has resulted in a decline in investor confidence and a decrease in cryptocurrency values.

The combination of these factors has led to a decline in cryptocurrency prices, with BTC falling to $64,999 and ETH dropping to $3,385.13. The market is expected to continue its downward trend unless there is a significant change in investor sentiment or a shift in market conditions.

Investors are advised to exercise caution and conduct thorough research before making any investment decisions. Cryptocurrencies are known for their high volatility, and prices can fluctuate rapidly. It is essential to stay informed and up-to-date on market trends and developments to make informed investment choices.