Jerome Powell

Chair

Strong

Bitcoin

Million

<p>The post <a href="https://coinpedia.org/crypto-live-news/bitcoin-faces-strong-selling-pressure-liquidations-surge-to-56-million-after-fed-meeting/">Bitcoin Faces Strong Selling Pressure, Liquidations Surge to $56 Million After Fed Meeting</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>On Wednesday, Fed Chair Jerome Powell decided to keep rates unchanged at 5.25-5.5% while hinting at the likelihood of a 25 bps rate cut in September if inflation data for July comes on the expected lines. This development turned out to be a sell-the-news event as along with BTC, altcoins have also been facing strong selling pressure leading to $193 million in market-wide liquidations. BTC and ETH contribute to over 50% of the total liquidations. More than $45 million has been in Bitcoin long liquidations while $10.94 million has been in short liquidations.</p>

Bitcoin Faces Strong Selling Pressure, Liquidations Surge to $56 Million After Fed Meeting

CoinPedia News

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