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Crypto market liquidations have reached a staggering $450 million after Federal Reserve Chairman Jerome Powell decided to keep interest rates unchanged. This decision was met with negative initial reactions in the crypto market, resulting in significant losses for investors.
As a result of this move, Bitcoin’s price took a dive under $116,000 before recovering above $18,500. The altcoin market has also experienced increased volatility, with Ethereum’s price oscillating within a range of $3,600-$4,000 over the past few days.
The recent FOMC meeting has sparked significant interest among investors and analysts alike. This is not just due to the potential impact on cryptocurrency prices but also its influence on the overall financial landscape.
Market analysts are divided in their opinions regarding the current market sentiment. Some experts, like Ali Martinez, have predicted a potential rally for Bitcoin if it can maintain the crucial support level of $105,450.
Source: www.coinspeaker.com
