Crypto Market Suffers $3.35T Loss After Fed Announcement
The crypto market just experienced a massive crash, with total losses reaching $3.35 trillion! 😱 Following the Fed’s hawkish announcement, Bitcoin (BTC) dropped below $100,000, even dropping to $97K, while Ethereum (ETH) also plunged to around $3,300 🔻.
This massive sell-off occurred because the FOMC announcement caused panic among investors. Many investors were also said to be bearish, which added to the selling pressure in the market 🔄. Bitcoin’s dominance has now increased to 57.4%, indicating that altcoins are not having a good season right now 🌪️. The Fear and Greed Index has also dropped to 62, indicating bearish sentiment is dominating the market right now.
The impact of the Fed’s announcement has not only moved the crypto market, but also affected other risk assets, with the Nasdaq and S&P 500 also experiencing sharp declines 📉. Many are hoping the market will bounce back, but right now, bearish sentiment is still strong among traders and investors.
Let's see what happens next in the crypto world! 👀