news 
Why is crypto down today? Looking at Bitcoin, FED, and past week’s sell-off effects!
The cryptocurrency market has been experiencing a tumultuous few days, with the majority of assets trading in the red. The question on everyone’s mind is: why is crypto down today?
The Christmas rally for Bitcoin (BTC) appears to be losing steam as prices failed to break above the $100k-mark on Boxing Day. This development can be attributed to the Federal Reserve’s two-day meeting that concluded with a policy statement forecasting only two interest rate cuts in 2025, instead of the previously projected four.
The impact on global markets was immediate, as the Dow Jones fell by more than 2.5%, or around 1,150 points. While the losses have since been recovered, the market has not been as kind to Bitcoin. The digital asset fell by a significant 2.75% in the last 24 hours, with the broader crypto market shedding 2.31% of its value.
An analysis of Bitcoin’s bearish structure on the four-hour chart reveals that there has been steady selling pressure since December 19th. This bears (pun intended) some similarities to the cryptocurrency’s previous price movements, but it remains to be seen whether this will result in a reversal or further downward momentum.
The data from Coinglass highlights a glimmer of hope for Bitcoin enthusiasts. The top trader positions on Binance indicate that long positions accounted for 66.12% and shorts for 33.88%, which could be a sign of bullish sentiment among the top traders.
Furthermore, the liquidation map suggests that there is a higher likelihood of a liquidity hunt to the north, potentially leading to a price move in this direction.
Lastly, it was observed that Bitcoin’s past week’s sell-off may be near its end as it has now reached a level where sellers have been exhausted.
Source: ambcrypto.com
