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After the FED decided to keep interest rates constant in line with expectations, the effects of this decision are also felt in the cryptocurrency market.
Although the FED made a move in line with expectations, the “dot plot” published along with the interest rate decision and representing estimates of how much interest rate cuts will be made this year, took a surprisingly hawkish stance.
According to the dot plot, the FED plans to cut interest rates only once in 2024, expected at a low rate of 25 basis points.
Following these hawkish statements, a general downward trend was observed in the cryptocurrency market. While Bitcoin lost approximately 0.75% in value, it seems to be recovering at the time of writing and is trading at $69,400.
<img fetchpriority="high" decoding="async" class="alignnone size-full wp-image-145364" src="https://www.bitcoinsistemi.com/wp-content/uploads/2024/06/BTCUSDT_2024-06-12_21-20-36.png" alt="" width="1342" height="792">
On the altcoin side, Ethereum decreased by approximately 0.60% after the decision. While losses in Solana appeared to be around 0.70%, BNB lost approximately 1% in value.
Related News: <a href="https://en.bitcoinsistemi.com/fed-leaves-rates-unchanged-but-the-statement-issued-is-more-critical-here-are-the-hawkish-statements-that-brought-bitcoin-down/" target="_blank" rel="noopener noreferrer nofollow">FED Leaves Rates Unchanged, But The Statement Issued Is More Critical - Here Are The Hawkish Statements That Brought Bitcoin Down</a>
On the other hand, the total market capitalization of “other”, calculated by excluding the world's 10 largest altcoins, decreased by approximately 0.8%.
On the liquidation side, a different picture was observed. In the last hour, a liquidation occurred in the cryptocurrency market, indicating low volatility of $ 21 million. $16 million of the liquidations were in long positions.
Interestingly, the most liquidation occurred in Ethereum, not Bitcoin.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/what-is-the-latest-situation-in-bitcoin-and-altcoins-after-the-feds-interest-rate-decision-how-much-liquidation-happened-here-are-current-data-4/" rel="noopener noreferrer nofollow">What is the Latest Situation in Bitcoin and Altcoins After the FED’s Interest Rate Decision? How Much Liquidation Happened? Here are Current Data</a>

What is the Latest Situation in Bitcoin and Altcoins After the FED’s Interest Rate Decision? How Much Liquidation Happened? Here are Current...

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