Bitcoin's price has dropped significantly, falling below $100,000 to a low of $93,000, marking a decline of nearly 15% from its record high of $108,364 earlier in the week. The downturn is attributed to the Federal Reserve's recent hawkish monetary policy signals and a broader risk-off sentiment in the market. Ethereum has also experienced a steep decline, dropping 15% as $1.2 billion in crypto positions were liquidated, affecting over 435,000 traders in just 24 hours. The total liquidation across the crypto market reached $1.42 billion, with Bitcoin accounting for approximately $222 million of that total. Despite the overall market downturn, the Hyperliquid token, $HYPE, has emerged as a standout performer, gaining 30% in a single day and reaching an all-time high of $32.65, with a market cap now exceeding $11 billion. This resilience comes amidst a backdrop of volatility, as traders navigate the implications of the Fed's monetary policy and ongoing political uncertainty in the U.S.