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After the announcement of the U.S. Federal Reserve's interest rate decision today, the cryptocurrency market began to experience a sharp decline.
Bitcoin plummeted dangerously close to the $100,000 mark, while Ethereum also dipped to $3,617. In the past 24 hours, the total liquidation amount across the network reached $702 million, with over 253,000 people liquidated.
(Background: Does Bitcoin have a Christmas market? Analyzing the historical data of BTC over the past 10 years tells you) (Background Supplement: Massacre! Bitcoin plunged to $94,150, ETH dropped to $3,500, with 560,000 people liquidated for a total of $1.7 billion, marking the 'second worst in history') Today (19th) at 3 AM, after the U.S. Federal Reserve's interest rate decision was announced, although it announced a rate cut of 0.25%, lowering the benchmark rate to 4.25%–4.5%, due to the reduced expectations for rate cuts next year, Bitcoin began to enter a downward trend, with BTC plummeting from a high of $104,800 to a low of $100,000, a short-term drop of up to 4.6%.
Before the deadline, it was reported at $100,504. Another possible reason for the selling pressure is that Federal Reserve Chairman Powell stated at the FOMC meeting press conference: "We are not allowed to hold Bitcoin."
Regarding the legal issues of holding Bitcoin, Powell stated: "This is something for Congress to consider, but we have no intention of seeking to change the law." Ethereum similarly saw a dip to $3,617 after the interest rate decision announcement, starting from a high of $3,907, and at one point dipped to $3,617, with a short-term drop of 6.8%. Before the deadline, it was reported at $3,649, down 6.45% in the past 24 hours.
In the past 24 hours, $702 million in liquidations Meanwhile, according to Coinglass data, in the past 24 hours, the total liquidation amount across the cryptocurrency network reached $702 million, with long positions liquidated for $608 million being the majority, and short positions liquidated for $93.57 million, with over 25,300 people liquidated.
Related reports "U.S. Bitcoin Strategic Reserve" administrative draft full text: managing BTC as a permanent national asset Bitcoin falls below $104,000" Tonight, the probability of the Federal Reserve cutting rates exceeds 95%, but will it be postponed next year?
When will Bitcoin surpass gold?
Galaxy Digital CEO: We will witness history within 5-8 years 〈Bitcoin plunges to $100,000, Ethereum falls below $3,650, Powell: The Federal Reserve is not allowed to hold Bitcoin〉 This article was first published in BlockTempo "BlockTempo Dynamics - Most Influential"
Bitcoin plummeted dangerously close to the $100,000 mark, while Ethereum also dipped to $3,617. In the past 24 hours, the total liquidation amount across the network reached $702 million, with over 253,000 people liquidated.
(Background: Does Bitcoin have a Christmas market? Analyzing the historical data of BTC over the past 10 years tells you) (Background Supplement: Massacre! Bitcoin plunged to $94,150, ETH dropped to $3,500, with 560,000 people liquidated for a total of $1.7 billion, marking the 'second worst in history') Today (19th) at 3 AM, after the U.S. Federal Reserve's interest rate decision was announced, although it announced a rate cut of 0.25%, lowering the benchmark rate to 4.25%–4.5%, due to the reduced expectations for rate cuts next year, Bitcoin began to enter a downward trend, with BTC plummeting from a high of $104,800 to a low of $100,000, a short-term drop of up to 4.6%.
Before the deadline, it was reported at $100,504. Another possible reason for the selling pressure is that Federal Reserve Chairman Powell stated at the FOMC meeting press conference: "We are not allowed to hold Bitcoin."
Regarding the legal issues of holding Bitcoin, Powell stated: "This is something for Congress to consider, but we have no intention of seeking to change the law." Ethereum similarly saw a dip to $3,617 after the interest rate decision announcement, starting from a high of $3,907, and at one point dipped to $3,617, with a short-term drop of 6.8%. Before the deadline, it was reported at $3,649, down 6.45% in the past 24 hours.
In the past 24 hours, $702 million in liquidations Meanwhile, according to Coinglass data, in the past 24 hours, the total liquidation amount across the cryptocurrency network reached $702 million, with long positions liquidated for $608 million being the majority, and short positions liquidated for $93.57 million, with over 25,300 people liquidated.
Related reports "U.S. Bitcoin Strategic Reserve" administrative draft full text: managing BTC as a permanent national asset Bitcoin falls below $104,000" Tonight, the probability of the Federal Reserve cutting rates exceeds 95%, but will it be postponed next year?
When will Bitcoin surpass gold?
Galaxy Digital CEO: We will witness history within 5-8 years 〈Bitcoin plunges to $100,000, Ethereum falls below $3,650, Powell: The Federal Reserve is not allowed to hold Bitcoin〉 This article was first published in BlockTempo "BlockTempo Dynamics - Most Influential"
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