Major cryptocurrencies fell Wednesday as stronger-than-expected Purchasing Managers' Index readings increased expectations for another interest-rate hike. Bitcoin declined 2.20% to $84,260.46 at 9:18 p.m. EDT after dropping from $87,000 to an intraday low of $83,654.39. Ethereum fell 2.60% to $2,682.14, XRP lost 4.50% to $1.50, Solana declined 2.90% to $115.36 and Dogecoin dropped 7.50% to $0.09294. More than $540 million was liquidated across the cryptocurrency market over 24 hours, with long positions bearing most of the losses, while Bitcoin open interest fell 6.63% and its long/short ratio moved below 1, indicating short positions outnumbered long positions among traders. Strategy Inc. and Bitmine Immersion Technologies Inc. fell 3.07% and 4.52%, respectively. The global cryptocurrency market capitalization declined 2.60% to $2.96 trillion. Stocks also weakened, and traders priced in nearly a 70% chance of another 25-basis-point rate increase next month. Cryptocurrency analyst and trader Ali Martinez identified a double-bottom pattern on Bitcoin's daily chart, citing $82,500 as key support and maintaining a $100,000 target. Santiment said wallets holding 100-1,000 BTC increased their holdings by 2.22% over the past two months, adding 113,950 BTC since July 15 to reach roughly 5.24 million BTC.