Reported about 1 year ago
Bitcoin fell to $65,100, with altcoins dropping 10%-20% in a tumultuous week. Smaller cryptocurrencies like Ether, Solana, Avalanche, Cardano, and Near experienced significant declines. The market saw a total of over $870 million in liquidations, clearing out excess leverage, as Bitcoin struggled to break out and faced increased selling pressure from miners and long-time holders. The negative sentiment was fueled by the Federal Reserve's projection of only one rate cut for the year and political uncertainty in Europe.
Source: YAHOO