The crypto market continues to be heavily bearish, down about 10% in the past 24 hours following the Fed's latest policy update.
Bitcoin The price fell almost 10% to a low of $93,000. This represents a marked reversal from its recent high of $108,268 earlier this week.
The drop took bitcoin to its lowest level since mid-November, when it was part of a rally fueled by market optimism following Donald Trump's election victory.
Ethereum It suffered a steeper decline, falling nearly 15 percent to $3,100, its weakest position since late November.
Binance Coin (BNB) Solana (Sun), Dogecoin (DOGE)and Cardano (ADA)also posted a double-digit loss, with data showing a drop of more than 10%.
Market analysts attribute this Wide sale to the Fed's tight stance on monetary policy. Although the Fed was expected Adjustment of borrowing ratescut its forecast for rate cuts in 2025 from four to just two. This bullish outlook has added pressure on a fragile market.
Additionally, the Federal Reserve clarified that it has no plans to support the government's proposed Bitcoin reserve strategy, further dampening market sentiment.
Marcus Thielenhead of 10x Research, said that The current price level of Bitcoin serves as a vital indicator for risk management. He noted that the assertive policy of the Federal Reserve and the expected potential liquidity adjustments of the US Treasury in 2025 have increased market uncertainty.
Liquidation frenzy comes to the market.
according to data From CoinGlass, the recent market turmoil brought in over $1.2 billion Liquidationsaffecting 377,618 traders.
Long traders — those who bet on price increases — suffered the most, losing almost $1.07 billion. This is one of the most significant failures for long traders this year.
Meanwhile, short-term traders betting on falling prices lost $163 million during the reporting period.
Bitcoin price speculators suffered the biggest losses with $279 million in cash, including $227.5 million in long positions. Ethereum traders followed closely behind with $277 million in cash, including $248.7 million in long positions and $28.2 million in short positions.
Traders betting on Solana, XRPand Dogecoin suffered losses of $55 million, $36 million, and $80 million, respectively.
The most important liquidation of the unit in history took place Binancewhich includes a $15 million ETH-USDT transaction that further highlights the intensity of recent market volatility.
