After the Federal Reserve announced a 2-point rate cut, Bitcoin started a rapid rise after a short wash, reaching a high of $62,397 at the time of writing, up 4.08% in the past 24 hours, and Ethereum also approached $2,400. However, all four major U.S. stock indexes closed down.
Bitcoin continued to fluctuate in a narrow range near the $60,000 level yesterday (18th) until the Federal Reserve announced a two-point interest rate cut at 2 a.m. Bitcoin then fluctuated up and down within three hours, briefly breaking through $61,000 before quickly falling back.
However, after regaining its footing at $60,000, Bitcoin started a rapid rise after six o'clock earlier. At the time of writing, it reached a high of $62,397, up 4.08% in the past 24 hours, setting the highest price since the end of August.
Ethereum's trend is similar to Bitcoin's but the increase is slightly weaker. At the time of writing, the highest price is $2,394, up 3.52% in the past 24 hours.
ETH trend. Source: OKX
The entire network has a liquidation of 186 million US dollars in the past 24 hours
Against the backdrop of Bitcoin's rise, according to Coinglass data, in the past 24 hours, the total amount of cryptocurrency contracts liquidated across the entire network reached US$186 million, of which US$110 million of short positions accounted for the majority, and a total of more than 67,000 people were liquidated.
However, strictly speaking, the margin call data this morning is not particularly serious. Perhaps investors are hedging in advance, or their liquidation price has not yet been reached. Please be careful that the volatility will be further amplified.
US stocks fell after rising
After the Federal Reserve announced a 2 basis point rate cut, U.S. stocks rose sharply during the trading session. However, perhaps because Federal Reserve Chairman Powell emphasized at the press conference that there is no rush to relax monetary policy, saying that a 2 basis point cut is not a new normal, or because investors are worried about the risk of market recession, all four major indexes closed in the red.
The Dow Jones Industrial Average fell 103.08 points, or 0.25%, to close at 41,503.1
The Nasdaq Composite Index fell 54.76 points, or 0.31%, to close at 17,573.3.
The S&P 500 index fell 16.32 points, or 0.29%, to 5,618.26.
The Philadelphia Semiconductor Index fell 52.81 points, or 1.08%, to close at 4,859.29.
