Bitcoin’s Monday rally that drove it to $65,600 on a couple of occasions has come to a screeching halt, as the asset has not only erased all gains but plummeted even more to a ten-day low.
Most altcoins have followed suit, which has skyrocketed the daily liquidations to approximately $700 million.
The chart above paints a clear and painful picture. BTC had maintained $64,000 over the weekend before it jumped to a multi-day peak of $65,600 on Monday. It tried to take down that resistance twice, but it was stopped each time.
The second rejection was quite violent as it drove the asset south by nearly $3,000 in hours. Thus, BTC plummeted to $63,000 for the first time since July 17.
Popular analyst CRYPTOWZRD weighed in on the latest move south, indicating that the largest digital asset had closed bearish. They believe it’s essential for BTC to remain above the currently tested support at $63,000; otherwise, it could slump to new local lows.
ETH was yesterday’s top gainer, surging to a two-month peak of $1,980. However, it has lost $100 since then and now sits well below $1,900. XRP has dumped by 4.5% to $1.06, thus slipping below the coveted $1.10 support. SOL is down by a similar percentage, while HYPE has plummeted by 6%.
Expectedly, this big market move has harmed over-leveraged traders, as more than 165,000 such participants have been wrecked in the past 24 hours. The total value of liquidated positions has risen to almost $700 million on a daily scale. Naturally, BTC and ETH lead the pack.
This morning’s market crash comes just a day before the US Federal Reserve is scheduled to announce its interest rate decision, and the uncertainty around a potential hike has harmed risk-on assets like crypto.
The post $700 Million in Liquidations as BTC, ETH, XRP Plunge Ahead of FOMC appeared first on CryptoPotato.
小靓分析：
🦊 小靓解读
FOMC利率决议前，BTC从$65,600急跌至$63,000，全网爆仓达$7亿，市场情绪由乐观快速转向避险，空头借势反扑。
📊 市场影响
短期看，$63,000为多空分水岭，若失守可能测试$60,000支撑；ETH、XRP等主流币同步下行，联动性高，流动性收紧预期压制反弹空间。
💡 操作建议
建议降低杠杆、收紧止损，避免在FOMC前后追涨杀跌；可关注$63,000附近企稳信号，若放量反弹再考虑轻仓试多，否则观望为主。
风险提示：
该资讯来源于公开渠道，仅供参考。Traceless 无痕智盈平台不对此信息准确性做任何保证。