Crypto week ahead: Market braces for US elections, FOMC meeting – What’s next?
- More than $238 million was liquidated from the crypto market in 24 hours after prices plunged.
- Next week’s US elections and upcoming FOMC meeting could cause a surge in market volatility.
The cryptocurrency market is headed for one of the most crucial weeks this year. Speculation on the week’s events has triggered price declines. At press time, all the top 50 cryptos by market capitalization, apart from Celestia [TIA] were trading in the red.
Over the weekend, Bitcoin [BTC] dropped from $71,000 to trade at $68,380 at press time. Ethereum [ETH] also traded at $2,440, after a 2% dip.
The declining prices resulted in massive liquidations in the derivatives market. Data from Coinglass showed that in the last 24 hours,…
