$ 260 million liquidated in the middle of the roller coaster ride of Bitcoin, triggered by the interest rate increase of the Fed: Market observation

23. März 2023

Krypto News Österreich

Aktualisiert: 23. März 2023

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The price of Bitcoin experienced an expected roller coaster ride yesterday after the chairman of the US Federal Reserve announced a further interest rate increase.

Most old coins are now deep in the red, with several that have been heavily thrown against Justin Sun after the SEC allegations.

BTC fell by $ 2,000

The global banking crisis, which has developed in the past few weeks, has driven the primary cryptocurrency to a nine -month high of over $ 28,000. The asset continued to rose yesterday because it reached almost $ 29,000. This was before the second FOMC meeting of the year.

In view of what happened to SVB and other banking organizations, numerous prominent personalities such as Bill Ackman and Elon Musk suggested that the Fed should return from their interest rate strategy. However, the country's central bank did not follow its advice and increased the key interest rates by another 25 basis points.

BTC reacted with immediate price volatility. The asset fell from its multi -month high up to $ 26,700 (on Bitstamp). The roller coaster continued in the following hours, but this time in the opposite direction. Of course, this led to a large number of liquidations with a total value of $ 260 million on a 24-hour scale.

From now on, the cryptocurrency is again traded at almost $ 28,000. Market control has increased to 46.2 %.

Btcusd. TradingView Btcusd. Tradingview

ltc, APT defy the adversity

The old coins experienced a similar, if not stronger volatility after the Fed's announcement. However, most of them write red on the day scale.

Ethereum fell below $ 1,800, BNB is well below $ 330, and similar declines are obviously RippleCardano, Polkadot, Solana and others.

TRX unloaded most of the large cap alternatives after the second was followed. Despite his reaction to the allegations, other cryptocurrencies associated with tron were difficult.

litecoin and aptos are among the few examples of digital assets in the green area. LTC has increased by 8.5 %, while APT has risen by 5.5 %.

The crypto market capitalization has dropped by around $ 30 billion to $ 1.160 trillion.

Overview of the cryptocurrency market. Quantify crypto