The cryptocurrency market went through a day of high tension when the U.S. Federal Reserve, led by Jerome Powell, adopted a more restrictive tone regarding inflation, dismissing significant rate cuts in the short term. This shift generated a wave of long position liquidations that exceeded US$ 200 million, especially in altcoins like Ethereum and Solana.
The signals from the FED impacted like a short circuit: altcoins recorded drops of between 4% and 6% in one day, automatically triggering the liquidation of leveraged positions. Leverage remains a double-edged sword in such a volatile market as crypto.
The FED's decision to keep the interest rate stable and thus avoid inflationary effects makes riskier assets lose appeal.
Regarding the quotes, Bitcoin is trading on Wednesday 30/07 night at around US$ 118.517, 0.66% more than the night before, Ethereum ends the day at US$ 3.836, 1.67% up, and Solana, US$178.79, losing 0.66% compared to a day earlier.
