There is a Sudden Drop in Bitcoin and Altcoins! Here’s Why and Latest Liquidation Data!

Crypto even market, Bitcoin He faced a sudden decline in his leadership. The world’s largest cryptocurrency lost 5.74% in value in the last 24 hours.

BTC is trading at $98,074 at the time of writing this article.

It is thought that the reason for the decrease is the hawkish FOMC statements that followed yesterday’s FED’s announcement of a 25 basis point interest rate cut as expected, and the hawkish speech made by FED President Jerome Powell during the press conference that interest rate cuts will slow down.

While the FED’s dot plot chart previously predicted four interest rate cuts in 2025, this number was reduced to two with the revision made yesterday.

However, in the altcoin world, double-digit declines are observed in many cryptocurrencies. Ethereum price has dropped 10.61% in the last 24 hours and is trading at $3,472 at the time of writing.

Among the top 100 cryptocurrencies, those that experienced the biggest decline were LDO, RUNE, GALA, FLOKI and PENGU, respectively.

The sudden decline in the market brought with it a large amount of liquidation. According to the latest data, there was a huge liquidation of $ 1.05 billion in the last 24 hours across the cryptocurrency market, of which $ 911 million was in long positions.

Among the cryptocurrencies with the most liquidation, Bitcoin ranked first, followed by Ethereum, Dogecoin, XRP and Solana.

*This is not investment advice.