Bitcoin and Ether Rally Ahead of FOMC Decision Triggering Liquidations
Crypto markets saw sharp price gains for Bitcoin and Ether before the U.S. Federal Open Market Committee's interest rate announcement, leading to significant trader liquidations.
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Terms & Concepts
FOMC (U.S. Federal Open Market Committee): A branch of the Federal Reserve that sets U.S. monetary policy, including interest rates.
Liquidation: The forced closure of a leveraged trading position when losses exceed margin, often resulting in loss of funds.
Ether: The native cryptocurrency of the Ethereum blockchain, used for transactions and smart contracts.