The price of Bitcoin plummeted by more than 8%, nosediving from $43,810 to $40,272 in less than an hour.
The shockwave resulted in a staggering $353.61 million in liquidated positions across the entire market spectrum, catching many bullish investors off guard.
BTC to USD by Notably, 88.7% of the liquidated positions in alone were long positions, totaling almost $100 million in the past 12 hours.
The crypto market, now more institutionalized than ever, reacts strongly to such decisions, often more profoundly than traditional financial markets under the Fed’s monetary policy.
Source: The impending is expected to send crucial signals to market participants, offering insights into the economic landscape for the coming month. Of paramount importance is the question of how long the era of expensive money will persist and whether the “money printer,” which catalyzed the crypto market’s exponential growth two years ago, will be reignited.
The last time the Federal Reserve made a similar decision on Nov. 1, experienced a 3% dip, followed by a robust 5.5% surge. Such market dynamics are not uncommon during these events, signaling an imminent shakeout.
For inexperienced investors, the advice is clear: brace yourself for potential turbulence and consider sidelining on the decisive day in 48 hours.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
