“Bitcoin hits a new high and plunges the next day, 270,000 people liquidated! After the Fed's interest rate hike, the market situation changes dramatically, the next 24 hours are crucial”
Just as Bitcoin hit a new high this year, breaking through $108,000, the market instantaneously faced a massive reversal! On Thursday (19th), the Fed announced a scheduled interest rate cut of 25 basis points, but Powell's remarks triggered a sharp decline in Bitcoin — within just one day, Bitcoin plummeted by 5%, briefly falling below the $99,000 mark, marking the largest drop in three months.
Even more shocking is that, according to Coinglass data, nearly 270,000 people globally were liquidated in the past 24 hours, with the liquidation amount reaching $781 million. As Bitcoin's price approaches the critical $100,000 level, market sentiment has plunged into panic. If Bitcoin falls below $100,000, the pressure for long liquidation could reach $335 million; whereas if it breaks above $102,000, the total amount for short liquidation could reach $731 million.
After the Fed's interest rate cut announcement, Powell explicitly stated at a press conference that the Fed does not intend to include Bitcoin on its balance sheet, which further fueled bearish sentiment in the market. However, despite the significant price volatility of Bitcoin in the short term, analysts from blockchain analysis platform Santiment pointed out that the correlation between BTC and the stock market has weakened, which may be a “bull market signal” for the cryptocurrency market. If the market situation stabilizes within the next 48 hours, there may be new upward opportunities.
After the plunge, there is room for rebound; seizing the opportunity can put you ahead of the game! Follow the hunters to stay informed about market trends and help you grasp the next opportunity!
