$300 million liquidated from crypto market in one hour as Fed Chair delivers FOMC speech
Crypto markets saw $300 million liquidated rapidly following volatility caused by Fed Chair Jerome Powell's FOMC speech.Summary
The cryptocurrency market experienced $300 million in liquidations within one hour as Federal Reserve Chair Jerome Powell delivered remarks during the Federal Open Market Committee (FOMC) speech, causing immediate volatility across digital assets. This rapid reaction underscores the market's sensitivity to central bank communications. The Fed announced a decision to reduce the federal funds rate by 25 basis points to a range of 4% to 3.75%, supported by a 10-2 vote, citing slow job gains and a slight rise in unemployment. While lower interest rates could potentially encourage investment into cryptocurrencies and other alternative assets, the ongoing US government shutdown introduces complications, potentially causing regulatory delays and increasing investor uncertainty regarding the crypto outlook.
(Source：Crypto Briefing)