The cryptocurrency market has experienced a sharp decline in the last 24 hours. Analysts believe this pullback stems from investors closing positions following the Fed’s interest rate decision, using a “sell the news” approach.
Bitcoin (BTC) fell 4.28% to $108,936, while Ethereum (ETH) fell 8.28% to $3,839. The selling pressure spreading across the market was also felt across altcoins, with Solana (SOL) down 9.46%, BNB down 6.11%, and XRP down 6.90%.
Market-wide liquidations exceeded $1.1 billion in the last 24 hours. Long positions accounted for $1.03 billion, while short positions accounted for $72.3 million. The largest liquidations were seen in ETH ($420.85 million), while Bitcoin saw $268.61 million and Solana saw $73.65 million in liquidations.
Chart showing liquidations in the cryptocurrency market in the last 24 hours.The total cryptocurrency market capitalization fell below $3.73 trillion, while the Fear and Greed Index, which measures investor sentiment, fell to 44 and moved into “fear” territory.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/bitcoin-and-altcoins-experience-major-decline-whats-the-reason-behind-the-drop-here-are-the-liquidations-and-latest-data/
