Bitcoin Liquidations Surge to $56 Million Soon After Fed Meeting, What’s Happening?

Quick Summary:

Soon after the US Fed meeting on Wednesday, July 31, the Bitcoin (BTC) price has seen strong selling pressure dropping by 3% all the way to $64,000 as of press time.

This has led to strong BTC liquidations surging to over $56 million in the last 24 hours.

Powell likely knows there’s no way inflation is headed back down to 2%.

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Article Details

Author / Journalist: Bhushan Akolkar

Category: Crypto

Markets: India

Topics: Bitcoin (BTC) Price Bitcoin News Jerome powell 24/7 Cryptocurrency News Ethereum (ETH) price Fed meeting Fed rate cut

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-01 @ 04:00:35 (16 hours ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 429 words

Reading Time: 3 minutes read

Sentences: 44 lines

Sentence Length: 10 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 21881599

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Main Topics: Crypto

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