The recent FOMC meeting has just brought a strong bearish momentum in the market with some key points to note on why it influenced the current bearish trend.

Jerome Powell and the Fed decided not to change interest rates for now.

The economy is doing okay—growth is steady, jobs are stable.

Inflation is still a bit high, but they want to bring it down to 2%.

Future rate changes? Maybe, but they'll wait and see.

Big policy review coming, but the 2% inflation goal stays.

and no rate cut, means interest rate is still high which is why no money inflow in the crypto market.