Crypto liquidations hit $156 million ahead of October 28 FOMC rate decision
CIE News ·
Based on reporting by Investing.com; not yet independently confirmed.
Ahead of the October 28 FOMC interest rate decision, crypto markets saw $156 million in liquidations across 24 hours, with long positions making up about 74% of the wipeout.
Crypto markets saw $156 million in total liquidations over a 24-hour period as investors derisked ahead of the Federal Open Market Committee meeting scheduled for October 28. Long positions made up approximately 74% of the wiped-out leverage, which included $44 million on Ethereum (ETH) alone, according to CoinGlass data.
On October 26, Bitcoin (BTC) traded between $79,600 and $80,400 after falling below the $80,000 level over the weekend, CNBC TV18 reported on TradingView. Purvang Mashru of BitDelta India reported that nine of the ten largest cryptocurrencies by market capitalization recorded declines. ETH changed hands between $2,300 and $2,327, while BNB, XRP, and Solana (SOL) also dropped.
Market participants expect the Federal Reserve to keep interest rates in the 3.75% to 4.00% range at its upcoming meeting. Rising oil prices and climbing bond yields have added to macroeconomic pressure, according to analysts cited by CNBC TV18 on TradingView, while US spot Bitcoin ETFs experienced $635.6 million in net outflows on October 22.
Key facts
- $156M total liquidations
- 74% long positions
- $44M ETH liquidations
- FOMC decision on Oct 28
Read the original at Investing.com