Crypto Market Slides 1.4%, Over $500M Liquidated Ahead of Fed Decision

Bitcoin Dips Before Fed Rate Cut Decision as Ethereum and Dogecoin Lead Losses

  • Crypto market capitalization declined 1.4% in the last 24 hours to $3.89 trillion.
  • Over $500 million in leveraged bets were liquidated, with most losses affecting long traders.
  • Major cryptocurrencies like Ethereum (ETH) and Dogecoin (DOGE) led the declines while Bitcoin (BTC) also dipped.
  • Market participants expect the Federal Reserve to cut interest rates by 0.25 percentage points after its meeting.
  • Crypto-linked equities showed mixed performance ahead of the Federal Reserve’s announcement.

The global cryptocurrency market saw a 1.4% decline in the past 24 hours, with overall market capitalization dropping to around $3.89 trillion. Leading the drop were Ethereum (ETH) and Dogecoin (DOGE), followed by Bitcoin (BTC), as traders awaited the Federal Reserve’s upcoming decision on interest rate cuts.

- Advertisement -

According to data from CoinGlass, more than $500 million in leveraged crypto positions were liquidated over the same period. Of this, about $360 million originated from long bets—investors who had expected prices to rise—while approximately $155 million came from short positions.

Ethereum fell by 2.8% and Dogecoin lost 2.7% in value within 24 hours. Bitcoin declined by 1.3%. Meanwhile, retail sentiment for Ethereum was described as ‘neutral’, while Dogecoin and Bitcoin were both viewed as ‘bearish’ by traders on select polling platforms.

Other notable price movements included Cardano (ADA), down 2.5%, Binance Coin (BNB), down 2%, and Solana (SOL), down 1.7%. XRP edged lower by 0.2%.

Market watchers are widely expecting a 0.25 percentage point reduction in U.S. interest rates at the conclusion of the Federal Reserve’s two-day meeting. The CME FedWatch Tool indicated a 99.9% probability of a quarter-point cut. A recent poll showed that 61% of retail traders predict a 25 basis-point cut, 19% see a larger cut, and 20% expect no change. Investors are also awaiting comments from Federal Reserve Chair Jerome Powell for indications of future monetary policy shifts.

- Advertisement -

On the equities side, shares of MicroStrategy (MSTR), the main corporate holder of Bitcoin, increased 0.19% prior to market open. Bitmine Immersion Technologies (BMNR), a digital asset firm backed by Ethereum, fell 1.1%, and Coinbase (COIN) rose 0.2%. For more information on recent market movements, see CoinGlass data.

Previous Articles:

- Advertisement -

Latest News

Bitcoin Plunges 7% in Weekend Liquidity Rout to Near $75K

Bitcoin (BTC) plunged over 7% during weekend trading, liquidating approximately $800 million in positions.The...

XRP Eyes $7 Amid Whale Accumulation, RWA Growth

Whales have added 42 new wallets holding over 1 million XRP since January 1,...

Hyperscale hits 500k TPS, peaks over 700k in public test

Radix Hyperscale sustained 500,000 transactions per second (TPS) with peaks over 700,000 TPS during...

JPMorgan Projects Gold Skyrocketing to $8,000 by 2030

JP Morgan projects Gold (XAU/USD) could surge to $8,000 by 2030, a prediction following...

Crypto VC Inflows Hit $1.4B Through Early 2026

Institutional and venture capital commitments to crypto companies reached $1.4 billion at the start...
- Advertisement -

Must Read

10 BEST Companies to Buy Hosting With Bitcoin And Crypto

If you are looking to buy hosting with bitcoin or cryptocurrency then you've come to the right place.I've done the research for you...
🔥 #AD Get 20% OFF any new 12 month hosting plan from Hostinger. Click here!