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The cryptocurrency market is still facing a sharp decline, falling almost 10% in the past 24 hours following the latest Federal Reserve policy update.
Bitcoin The price fell almost 10%, reaching a low of $93,000. This represents a stark reversal from its recent high of $108,268 earlier this week.
The decline brought Bitcoin to its lowest level since mid-November, when it was riding a bull run driven by market optimism following Donald Trump’s election victory.
Ethereum The coin faced a steeper decline, falling nearly 15% and reaching $3,100, its weakest position since late November.
Binance Coin (BNB Bank), Solana (Sunday), Dogecoin (DOGE)and Cardano (ADA)It also recorded double losses, as data showed declines exceeding 10%.
Market analysts attribute this Extensive sales Because of the Federal Reserve’s hawkish stance on monetary policy. Although the Fed made the expected Adjustments to borrowing ratesIt lowered its forecast for interest rate cuts in 2025 from four to just two. These tightening expectations have increased pressure on an already fragile market.
Additionally, the Federal Reserve has made clear that it has no plans to support any proposed government Bitcoin reserve strategy, further dampening market sentiment.
Marcus ThelenHead of Research at 10x Research, He said that Bitcoin’s current price level is a crucial marker for risk management. He noted that the Fed’s firm policy stance and potential liquidity adjustments expected from the US Treasury in 2025 have increased market uncertainty.
Liquidation craze hits the market.
according to Data From CoinGlass, the recent market turmoil has led to an inflow of over $1.2 billion Liquidationaffecting 377,618 traders.
Long-term traders — those betting on rising prices — bore the brunt of the losses, losing nearly $1.07 billion. This represents one of the most significant setbacks for long-term traders this year.
Meanwhile, short traders betting that prices would fall lost $163 million during the reporting period.
Bitcoin price speculators suffered the largest losses, with $279 million liquidated, including $227.5 million in long positions. Ethereum traders closely followed $277 million worth of liquidations, including $248.7 million of long positions and $28.2 million of short positions.
Traders are betting on Solana XRPDogecoin also incurred losses of $55 million, $36 million, and $80 million, respectively.
The most important single liquidation occurred in Binancewhich involves a $15 million USD trade between ETH and USDT, further highlighting the intensity of recent market volatility.
