Bitcoin Plunges as Binance Concerns and Fed Meeting Loom

The price of bitcoin experienced a sharp drop, falling over 3% to $29,121.60, its lowest level in over a month, as investors awaited the Federal Reserve's policy decision and considered concerns surrounding Binance. The reason for the drop is unclear, but it coincided with a Wall Street Journal report raising questions about Binance's trading volume. Binance, the largest crypto exchange, is currently facing a Securities and Exchange Commission lawsuit and a Department of Justice investigation. Additionally, investors are closely watching the Federal Reserve's meeting for any indications of rate hikes.