The crypto market is down 4.48% to $2.15 trillion in 24 hours. Bitcoin fell below $63,000, dropping $2,000 in just two and a half hours with over $200 million in long positions liquidated in four hours.

Ethereum is down 4.97% to $1,685. XRP dropped 6.25% to $1.13. Solana fell 6.92% to $68.69. The Fear and Greed Index sits at 19, deep in extreme fear territory.

What Caused the Drop

The Federal Reserve held interest rates steady on June 17 but delivered a more hawkish signal on the path ahead, indicating fewer rate cuts than markets had been pricing in. A stronger dollar followed immediately, reducing appetite for non-yielding risk assets including crypto.

Bitcoin liquidations reached $101.68 million over 24 hours with 71% of those being long…