$100 million worth of Bitcoin and altcoins liquidated over 12 hours following Fed meeting cryptocurrency btc altcoin Coinglass Liquidation
, over $100 million worth has been liquidated across the crypto market in the last 12 hours as Bitcoin and altcoins pared off earlier gains following the Fed's resolve.Bitcoin dipped to lows of $35,530 before slightly rebounding to trade at $36,396 at press time. Several altcoins, especially those in the top 100, were recording losses between 3% to 5% at press time.
Traders took on $37.46 million worth of losses on Bitcoin liquidations, while Ethereum liquidations in the last 12 hours stand at $29.96 million. In the past 24 hours, 96,903 traders were liquidated. The largest single liquidation order happened on Bybit—of BTC/USD valued at $5.55 million. These gains quickly dissipated following the Fed's resolve to"significantly" reduce the size of its balance sheet"in a predictable manner" after rate hikes start.Jerome Powell stated that he believes there is"quite a bit of room" to raise rates without harming the labor market.
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