Bitcoin Faces Strong Selling Pressure, Liquidations Surge to $56 Million After Fed Meeting
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Bitcoin faced strong selling pressure and $56 million in liquidations after the Federal Reserve decided to keep rates unchanged at 5.25-5.5%. Fed Chair Jerome Powell hinted at a possible 25 bps rate cut in September, depending on July's inflation data. This development turned into a sell-the-news event impacting BTC and altcoins alike.
Other cryptocurrencies also suffered due to the market reaction to the Fed's decision. Investors are anxiously waiting for the next inflation report which could further impact cryptocurrency prices.
Overall, the market sentiment remains cautious with traders closely monitoring economic indicators and their potential effects on crypto assets.
Fuente: coinpedia.org ↗
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