The Federal Reserve's latest policy decision rattled risk assets again, with crypto investors taking the hardest hit. The FOMC statement held interest rates steady, flagged energy price spikes and geopolitical tensions as inflationary pressures, and showed an unusually hawkish split with four dissenting votes. Panic selling swept the crypto market.
Bitcoin Below $75K, Ethereum Nears $2,200
Bitcoin (BTC) dropped sharply, breaching the $75,000 psychological level. Ethereum (ETH) followed, approaching the $2,200 support zone. The sell-off triggered a wave of stop-losses and forced liquidations in derivatives markets.
$508M Liquidated in 24 Hours, $7.9M Single Order on Binance
Data from CoinGlass shows that 120,053 traders were liquidated across exchanges in the past 24 hours, with total liquidations reaching $508.24 million. The largest single liquidation order was a $7.9 million ETHUSDT long on Binance. With the Fed signaling a prolonged high-rate environment, liquidity could tighten further, and traders are advised to manage leverage cautiously.