UPDATE: Crypto liquidations hit $815 million as FOMC rate hold odds reach 90.6%
CIE News ·
Update to Crypto liquidations hit $156 million ahead of October 28 FOMC rate decision
Confirmed by 2 independent news outlets.
Leveraged crypto liquidations reached over $815 million as markets priced an 88% to 90.6% probability that the FOMC will hold interest rates steady on October 28.
Crypto market liquidations topped $815 million alongside institutional outflows between $772.4 million and $773.5 million from U.S. spot Bitcoin ETFs. As previously reported, traders began derisking ahead of the Federal Open Market Committee meeting, which was earlier associated with $156 million in liquidations. Derivatives open interest also dropped 8.6% as macroeconomic pressure intensified.
Rate futures and CME FedWatch data indicate an 88% to 90.6% probability that the FOMC, led by Chair Kevin Warsh, will keep the federal funds target rate unchanged at 3.75% to 4.00% on October 28, 2026. Markets also price an estimated 9.4% chance of a 25-basis-point increase. The rate outlook follows U.S. consumer price index inflation accelerating to 3.7% year-over-year in September.
Coinpedia reported that the total crypto market capitalization dropped 1.6% to $2.75 trillion, with Bitcoin (BTC) trading below $80,000. Additionally, between $11.1 billion and $12.2 billion in BTC options and 322,586 Ethereum (ETH) contracts worth around $777 million will expire on October 30.
Key facts
- $815M liquidations
- 88%-90.6% rate hold probability
- $772.4M-$773.5M ETF outflows
- 8.6% drop in open interest