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The Federal Reserve is expected to rise by at least 75 basis points on July 27, with the market capitalization of cryptocurrencies Hut Bitcoin (BTC), Ethereum (ETH), and other crypto assets have declined in value over the last 24 hours, which is about 4%.
Coin glass data Indicated Over $ 150 million of positions were liquidated during the same period.
It’s been less than a week since Bitcoin’s price exceeded $ 24,000 and was temporarily traded. Major digital assets have fallen to less than $ 22,000 after losing more than 4% of their value in the last 24 hours.
Bitcoin began to fall from the $ 24,000 region after news that Tesla sold 75% of its holdings on July 20, but assets will trade in the $ 23,000 region over the weekend. Is done.
However, on the weekend of July 23, Bitcoin’s price fell below $ 22,000 to $ 21,831 at the time of the press, ahead of the expected rate hike by the Federal Reserve on July 27.
Meanwhile, Bitcoin’s fear and greed index also show current sentiment among market participants about the fear of the FOMC conference.
According to Coinglass data, $ 29 million has been liquidated from Bitcoin transactions.
Digital assets, the second largest by market capitalization, have also slowed recently as more than $ 70 million have been liquidated from the market in the last 24 hours.
Ethereum has lost more than 5% of its value in the last 24 hours and is exchanging hands for $ 1528.
Looks stronger $ btc However, both are currently LTF level support. Let’s see if there will be any bounce later today. pic.twitter.com/GKqnQISSHi
Posty (@PostyXBT) July 25, 2022
However, some analysts expect coins to move to the proof of stake network to renew investors’ interest in assets.In contrast, others point In the current macroeconomic situation as a precursor to the coin’s return to its former Red Run.
The other top 10 digital assets, whose market capitalization has skyrocketed in the past week, have also lost a significant portion of their value in the last 24 hours.
Binance Native Token BNB has lost 3.1% of its value and is currently trading at $ 256.4. Solana (SOL) is selling for less than $ 40 after losing more than 6% of its value in the last 24 hours.
Others like Ripple (XRP), Cardano (ADA) and Dogecoin (DOGE) each lose an average of 5%.
Avalanche (AVAX) is the worst performer in the top 20 as it has lost more than 8% of its value in the last 24 hours. AVAX is trading for $ 22.
