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The crypto market sold off big time on Friday after the US Federal Reserve decided to hold interest rates steady at 4.25% to 4.50% for the 5th time in a row. The pause, combined with tariff talks and economic uncertainty, had traders dumping positions and putting the brakes on the long awaited altcoin season.
Investor anxiety over short term volatility spiked as $600M in long positions were liquidated, the momentum shifted. Rate cuts were delayed and risk taking was discouraged especially in altcoin markets where speculation is higher.

Altcoins Lead the Decline
Solana (SOL), Dogecoin (DOGE) and Cardano (ADA) led the way down. Each of these coins were down 7% in the last 24 hours but still up for the month. Short term correction.
The market drop coincided with Bitcoin (BTC) investors taking $6B in profits and a broader profit taking across the crypto space.
Key figures for the last 24 hours:
🪷🔸Solana (SOL): $34.86M in long liquidations
🪷🔸Cardano (ADA): $5.74M in long liquidations
🪷🔸Dogecoin (DOGE): $18.37M in long liquidations
🪷🔸BTC realized profits: $6B+
🪷🔸Average price drop in SOL, ADA, DOGE: 7%
All three coins are still up for the month so once the market stabilizes they should recover.
Bearish Sentiment in Derivatives
Derivatives market went bearish as total crypto liquidations for the last 24 hours was $635M with $577M in longs being liquidated. Clearly the bulls are bailing.
CoinGlass shows increasing short positions in major altcoins:
🪷🔸Solana: 51.96% short vs 48.04% long
🪷🔸Cardano: 52.48% short vs 47.52% long
🪷🔸Dogecoin: 51.88% short vs 48.12% long
The imbalance shows sell side pressure is increasing as traders are positioning defensively with uncertainty.Investors are also getting nervous. CoinMarketCap’s Crypto Fear and Greed Index is at 57, down from 62 yesterday. Still neutral but shows how fast sentiment can change in volatile times.
Fed is holding firm on rate cuts and global macro risks are out there, get ready for more crypto price swings before things clear up.

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