Ethereum

Reserve

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Bitcoin ETF

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/crypto-market-plunges-as-investors-brace-for-fed-interest-rate-decision" rel="noopener noreferrer nofollow">Crypto Market Plunges as Investors Brace for Fed Interest Rate Decision</a><br></p>
<p style="text-align: justify">The <a href="https://en.bitcoinhaber.net/will-sui-sui-cryptocurrency-continue-to-rise" rel="noopener noreferrer nofollow">cryptocurrency</a> market is reeling as anticipation grows for the Federal Reserve’s impending interest rate decision. Leading cryptocurrencies <a href="https://en.bitcoinhaber.net/crypto-investors-eye-potential-bull-market-triggered-by-bitcoin-halving-and-spot-etf-approval" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC) and <a href="https://en.bitcoinhaber.net/expert-crypto-analyst-credibull-presents-new-optimistic-ethereum-forecasts" rel="noopener noreferrer nofollow">Ethereum</a> (ETH) witnessed a significant dip in value, plummeting 6% and 8%, respectively, in just one day. Bitcoin grappled with the $61,000 threshold, while Ethereum recoiled to the $3,000 mark, suggesting an intensified sell-off among altcoins as investor optimism for a market rebound wanes.</p>
<h2 id="massive-liquidations-hit-crypto-investors">Massive Liquidations Hit Crypto Investors</h2>
<p style="text-align: justify">Recent data reveals that the market has seen one of its most dramatic liquidation events in weeks, totaling around $670 million. The vast majority of this figure emanates from long positions, amounting to $500 million, while short positions contribute to a lesser extent, with $170 million. This massive scale of liquidations comes on the heels of the market’s overall value tumbling by approximately $600 billion from its peak last week.</p>
<p style="text-align: justify">Experts from K33 Research caution that the derivatives market could still face additional long position liquidations, potentially stalling a quick market recovery. Analysts Anders Helseth and Vetle Lunde point to the persistent threat of further downward volatility and a tough journey ahead for cryptocurrency investors.</p>
<h2 id="bitcoin-etf-inflows-dip-as-rate-cut-prospects-diminish">Bitcoin ETF Inflows Dip as Rate Cut Prospects Diminish</h2>
<p style="text-align: justify">Bitcoin’s value is hovering near a two-week low, impacted partly by a decrease in U.S. spot Bitcoin ETF inflows. The diminishing prospect of an interest rate cut in the United States is also influencing market sentiment, fostering uncertainty for Bitcoin and other altcoins. Despite these turbulent conditions, some major investors are seizing the opportunity to increase their Bitcoin holdings during the downturn.</p>
<p style="text-align: justify">MicroStrategy, a prominent institutional Bitcoin investor, recently revealed an acquisition of an additional 9,245 BTC, reinforcing its market position. This purchase boosts its total Bitcoin ownership to 1% of the circulating supply, underscoring the firm’s bullish stance on Bitcoin’s enduring value.</p>
<p style="text-align: justify">Moreover, investors are keenly awaiting the Federal Reserve’s interest rate announcement, which is set to address persistent inflation and unemployment figures while likely maintaining interest rates at their two-decade peak of between 5.25% and 5.5% through July. The market is poised for Federal Reserve Chairman Jerome Powell’s press conference, which will provide further economic insights following the interest rate update.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/crypto-market-plunges-as-investors-brace-for-fed-interest-rate-decision" rel="noopener noreferrer nofollow">Crypto Market Plunges as Investors Brace for Fed Interest Rate Decision</a></h5>

Crypto Market Plunges as Investors Brace for Fed Interest Rate Decision

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