The cryptocurrency market declined sharply on Tuesday, with Bitcoin falling 6% and slipping below $100,000, the lowest level since June.
The slide follows rising investor caution amid economic uncertainty and comments from Federal Reserve Chair Jerome Powell suggesting rates may stay elevated longer.
Bitcoin hit a low of $99,933 before climbing to $100,460 by 1:49 pm ET, down 5.7%. Ethereum dropped 9.2% to $3,272, turning negative for the year.