$BTC The decision of the US Federal Reserve to lower the interest rate by 25 basis points has led to significant losses in the cryptocurrency market. The drop of Bitcoin below $100,000, and then below $94,000, resulted in mass liquidations totaling $1.4 billion.

The largest liquidation was the closure of a position in Ether worth $15.8 million on the cryptocurrency exchange Binance. The identity of the trader and the size of the initial investment remain unknown.

Top cryptocurrencies by liquidation

In the past 24 hours, Ethereum has decreased by 6.34%. Major altcoins such as Solana (SOL) and Dogecoin (DOGE) have also suffered greatly due to selling pressure, giving back gains caused by Donald Trump's victory. Over the last day, SOL has fallen by 7.34%, and DOGE by 11.44%.