The worst has already happened for crypto at the FOMC meeting.

During it, Jerome Powell decided to leave the interest rates as they were, in the range of 5.25%–5.50%.

The same was true during the previous FOMC meeting; it was left the same.

$600 million was outflowed from crypto assets.

This time, the story repeats:

◾ Crypto market dropped by 3.3%. $80M outflowed.

◾ Greed level dropped by 9 points.

◾ Nearly $193M was liquidated in 12h

The situation is even worse when we look at tokens separately.

🔸 Bitcoin

It faced:

◾ $61.85 million liquidation in 24 hours

◾ -3% in 3h after FOMC decision. Now it's -4.5%

◾ Funny enough, $300K inflowed into Bitcoin ETF

◾ Overall outflow is $69.75M yesterday, $68M today

🔸 Ethereum

◾ $61.85 million liquidated in 24 hours

◾ In 3 hours after FOMC, the drop was 2.5%; now it's -4%

◾ -$77.2M in ETF. That's after the day of positive inflow, $33.7 million.

◾ Outflow of $88.45M yesterday and $40M today

🔸 Solana

◾ $14 million liquidated in 24 hours

◾ In 4h the drop by 5.5%, now - 7.7%

◾ Yesterday SOL had the inflow of $17M, but today $47M outflowed

People expect the interest rate to be cut on the next FOMC meeting.

But still, why did the market drop after it?

1. Interest rate is still high. That prevents people from investing in digital assets

2. Jerome decided to leave the same rate to fight inflation. So it has a direct influence on the market

3. Also soon will be announced the US unemployment rate, which contributed to the drop too

4. This point is out of the topic, but the Hamas leader Ismail Haniyeh was assassinated. There are high chances crypto investors are panicking because of it

Still, high interest rates will be cut at the next meeting in September. And potentially, that will be the beginning of the bull run.

#US_Job_Market_Slowdown #SOFR_Spike #BinanceTournament #BinanceHODLerBANANA