Federal Reserve Chair Jerome Powell's comments on inflation risks triggered over $200 million in leveraged liquidations, impacting crypto market sentiment and prices.
Following Federal Reserve Chair Jerome Powell's decision to maintain interest rates, the crypto market faced volatility with over $200 million in leveraged positions liquidated. Bitcoin briefly dipped below $116K but recovered to around $118K, while Ethereum fell about 3% before stabilizing. Altcoins experienced larger swings, with some dropping around 10% before recovering. Analysts suggest that if inflation cools and the Fed shifts its stance, Bitcoin could rally toward $150K by year-end.