Bitcoin Rebounds From Crash Following Fed Decision; $431 Million Liquidated
Main Idea
Bitcoin rebounded from a flash crash triggered by the U.S. Federal Reserve's decision to maintain interest rates, with $431 million in liquidations occurring within 24 hours.
Key Points
1. Bitcoin (BTC) dropped from around $118,600 to a low of $115,784 after the Fed's decision but later rebounded to trade above $118,900.
2. The flash crash led to $431 million in liquidations, with long positions significantly outweighing short positions across top cryptocurrencies.
3. Ethereum (ETH) saw the highest 24-hour long liquidations at $61.87 million, followed by BTC at $58.49 million.
4. The Dow Jones Industrial Average also reflected market unease, shedding 300 points.
5. The FOMC voted 9-2 to keep rates unchanged, with market odds of unchanged rates rising from 38% to 57% post-vote.
Description
Bitcoin rebounded from a “flash crash” on July 30, trading above $118,900 before dropping to below $118,700. The crash followed the U.S. Federal Reserve’s decision to maintain interest rates, causing BTC to plummet from around $118,600 to a low of $115,784. Flash Crash Triggers Significant Liquidations Bitcoin ( BTC) recovered from a late July 30
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