$600M in liquidations and Fed meeting weigh on crypto market
- —Liquidations over 24 hours totaled about $600 million, with $570 million in longs
- —Crypto market capitalization fell $120 billion to $2.54 trillion
- —BTC below $75,000, XRP -9.2% to $1.29, ETH -4.3% to $2,402, SOL $97.10
- —More than $450 million left ETFs on September 15, while US Treasury yields topped 5%
Why it matters: If the Fed hikes rates and signals a second increase, pressure on risk assets will intensify, though moderate leverage may let the market absorb the blow.
Source: AMBCrypto