What happened to the market today? Is this the beginning of a crash?
Today, the minutes of the U.S. Federal Reserve meeting were released, and the tone was more hawkish than the market had expected. Members indicated that an interest rate hike may be necessary before the end of the year, without ruling out any meeting, including the October meeting.
Market reaction:
The market did not respond to the positive hints, focusing instead on the hawkish tone, which led to a negative outcome:
· Bitcoin: Broke below the $83,000 level.
· Ethereum: Fell by more than 5%.
· Liquidations: Positions worth approximately $650 million were liquidated within 24 hours, most of them long positions.
Bottom line:
The minutes did not settle the timing of a rate hike, but they did not reassure the market either, resulting in a strong wave of selling.
The question is: Is this a temporary correction or the start of a deeper downturn?
$BTC $ETH $BNB #CryptoNews #Market_Update
Today, the minutes of the U.S. Federal Reserve meeting were released, and the tone was more hawkish than the market had expected. Members indicated that an interest rate hike may be necessary before the end of the year, without ruling out any meeting, including the October meeting.
Market reaction:
The market did not respond to the positive hints, focusing instead on the hawkish tone, which led to a negative outcome:
· Bitcoin: Broke below the $83,000 level.
· Ethereum: Fell by more than 5%.
· Liquidations: Positions worth approximately $650 million were liquidated within 24 hours, most of them long positions.
Bottom line:
The minutes did not settle the timing of a rate hike, but they did not reassure the market either, resulting in a strong wave of selling.
The question is: Is this a temporary correction or the start of a deeper downturn?
$BTC $ETH $BNB #CryptoNews #Market_Update