Bitcoin, the world’s largest cryptocurrency, has experienced a significant decline in recent hours and fell below $ 60,000.
At the time of writing, BTC price is trading at $59,377, with a 2.5% decrease in the last hour.
The FED decided to keep interest rates constant at its meeting last Wednesday, but at the press conference held half an hour later, chairman Jerome Powell made some statements in favor of the dove.
Although a rate cut in September was almost certain, sharp declines in the price of Bitcoin continued. The reason for the decreases is thought to be the increasing geopolitical risks along with the tension between Iran and Israel.
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On the other hand, the huge decline brought about liquidations in Bitcoin and the general cryptocurrency market. In the last hour, there was a liquidation of $48.91 million in the cryptocurrency market, of which $48.03 million was in long positions.
The amount of liquidation in the last 24 hours was measured as 246 million dollars. A total of 99,785 traders were liquidated, and the trader who experienced the most liquidations in a single transaction lost $6.29 million.
$66 million of the liquidations in the last 24 hours were observed in Ethereum, $59 million in Bitcoin and $19 million in Solana.
*This is not investment advice.
Continue Reading: Bitcoin Dropped 2.5 Percent in the Last Hour – Here’s All Known Information and Data
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Author: NixCoin