#BTC能否很快走出震荡行情？# Bitcoin big dump to $57,000 Ethereum break above $3,000 fall hours before the Fed meeting.

In the hours leading up to the next Fed meeting, investor pessimism hit Bitcoin and Ethereum hard.

At the time of writing, BTC are down 7.6% fall and fall ETH down 6% in the last 24 hours. According to CoinGecko, the Bitcoin price is hovering around $57,000, while the Ethereum price is stuck just below $2,900.

Fluctuation is hell for derivatives trading traders. According to CoinGlass, $457 million worth of encryption futures positions have been liquidated in the last 24 hours. Not surprisingly, $392 million of that is long-term contracts.

A trader who opens a futures contract essentially places a bet on future price movements. To go long on an asset is to bet that the price will pump. To shorting it is to bet that it will fall.

It's not just Blue-Chip Stocks like Bitcoin and Ethereum that are affected. Price slides are prevalent across the market. In fact, among the top 100 Crypto Assets by market capitalization of CoinGecko, only a handful of assets have escaped the sea of red, with the exception of stablecoins that have managed to stay pegged, such as Tether (USDT) and Circle's USDC. The Federal Open Market Committee will announce its Intrerest Rate decision at 2pm ET today, and Fed Chair Jerome Powell is scheduled to speak at a press conference at 2:30pm. Back in February, investors seemed convinced that May would be the month when the Federal Open Market Committee (FOMC) finally cut interest rates, which is usually a bullish signal for risk assets like Bitcoin.

This is because drop Intrerest Rate often induce traders to withdraw from U.S. Treasuries in order to chase gains on riskier assets such as stocks and encryption assets.

The Fed's key Intrerest Rate is currently at a high of 5.25% to 5.5% and has remained unchanged since July 2023 as the Central Bank aims to tame inflation. Policymakers have been keeping a close eye on inflation, which is currently at 3.5%, hoping to bring it closer to 2% before considering a rate cut.