Crypto Markets Dip on Powell’s Comments, Senate Passing Trump’s ‘Big Beautiful Bill’
Bitcoin slips below $107K as Fed signals Delayed cut .
The cryptocurrency market experienced volatility on Tuesday following United States Federal Reserve Chair Jerome Powell’s latest comments on interest rate cuts, as well as news that the Senate passed President Donald Trump’s so-called “One Big Beautiful Bill.”
Bitcoin (BTC) is down 1.5% over the past 24 hours and is currently trading at around $106,000. Meanwhile, Ethereum (ETH) dropped 1.5% on the day to $2,430. Solana (SOL) declined by 6% to $147. XRP traded flat on the day at around $2.19.
The total cryptocurrency market capitalization has dropped by 3.5% over the past 24 hours to $3.38 trillion as $219 million in leveraged positions were liquidated. BTC led the liquidations with nearly $60 million. ETH and altcoins liquidations followed with $47 million and $26 million, respectively, according to CoinGlass.
U.S. spot Bitcoin exchange-traded funds (ETFs) attracted $102 million in inflows on June 30, continuing a 15-day streak of inflows. Meanwhile, spot ETH ETFs recorded nearly $32 million in inflows, according to SoSoValue data.