Ethereum

FOMC

Bitcoin

<h2 id="key-points">Key Points</h2>
<ul>
 <li>The cryptocurrency market has seen a significant drop, largely influenced by the upcoming FOMC meeting and CPI reports.</li>
 <li>Bitcoin and Ethereum have led the market dip, with millions of dollars liquidated in the past 24 hours.</li>
</ul>
<p>The cryptocurrency market has seen a substantial decrease in the past day, resulting in millions of dollars being wiped from the market capitalization.</p>
<p>This downturn has been mainly driven by declines in <a href="https://coineagle.com/price/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin (BTC)</a> and <a href="https://coineagle.com/price/ethereum/" rel="noopener noreferrer nofollow">Ethereum (ETH)</a>.</p>
<h2 id="the-crypto-decline">The Crypto Decline</h2>
<p>The upcoming U.S. Federal Open Market Committee (FOMC) meeting and Consumer Price Index (CPI) reports have largely contributed to the decline of these two major crypto assets.</p>
<p>Analysis of the cryptocurrency market capitalization on CoinMarketCap has shown a significant drop in the past few days.</p>
<p>The market cap has fallen from over $2.5 trillion to around $2.47 trillion within the last 48 hours.</p>
<p>Furthermore, the liquidation chart on Coinglass shows that cryptocurrency liquidations on June 11th were quite significant, with long positions experiencing more liquidations than short ones as prices sharply dropped.</p>
<h2 id="bitcoin-and-ethereum-s-role">Bitcoin and Ethereum’s Role</h2>
<p>On June 11th, Bitcoin declined by over 3%, which brought down its price to around $67,377.</p>
<p>This drop led to over $66 million in liquidation volume, with long liquidations accounting for over $52 million and short liquidations over $14 million.</p>
<p>Similarly, Ethereum showed an almost 4.6% decline as its price fell to around $3,500, leading to over $69 million being liquidated.</p>
<p>The upcoming CPI data release and FOMC interest rate adjustments often cause significant fluctuations in the crypto market.</p>
<p>Investors adjust their risk exposure in response to these economic indicators, with a rise in CPI often correlating with a drop in Bitcoin’s price.</p>
<p>Increases in essential goods reduce the amount of disposable income people have, resulting in decreased investment in crypto.</p>
<p>The FOMC is expected to maintain the current interest rates between 5.25% and 5.50%, while the CPI is expected to show a modest increase, staying within the range of 0.1% to 0.3%.</p>

FOMC, CPI Factors Trigger Crypto Slump Today: Here’s Why

Table of Contents

CoinEagle.com

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