What is the Latest Situation in Bitcoin and Altcoins After the FED’s Interest Rate Decision? How Much Liquidation Happened? Here are Current Data

After the FED decided to keep interest rates constant in line with expectations, the effects of this decision are also felt in the cryptocurrency market.

Although the FED made a move in line with expectations, the “dot plot” published along with the interest rate decision and representing estimates of how much interest rate cuts will be made this year, took a surprisingly hawkish stance.

According to the dot plot, the FED plans to cut interest rates only once in 2024, expected at a low rate of 25 basis points.

Following these hawkish statements, a general downward trend was observed in the cryptocurrency market. While Bitcoin lost approximately 0.75% in value, it seems to be recovering at the time of writing and is trading at $69,400.

On the altcoin side, Ethereum decreased by approximately 0.60% after the decision. While losses in Solana appeared to be around 0.70%, BNB lost approximately 1% in value.

On the other hand, the total market capitalization of “other”, calculated by excluding the world’s 10 largest altcoins, decreased by approximately 0.8%.

On the liquidation side, a different picture was observed. In the last hour, a liquidation occurred in the cryptocurrency market, indicating low volatility of $ 21 million. $16 million of the liquidations were in long positions.

Interestingly, the most liquidation occurred in Ethereum, not Bitcoin.

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