Crypto Bulls Get Hit With $200M in Liquidations as Powell Rattles Market With Fed Warning
Crypto markets saw a rise in volatility on Wednesday as Federal Reserve Chair Jerome Powell’s hawkish remarks rattled leveraged traders.
Liquidations spiked to over $200 million in an hour across all digital assets as bitcoin (BTC) dipped below $116,000 while Powell spoke, CoinGlass data shows.
The central bank left interest rates unchanged, with Powell insisting on potential inflationary pressures from tariffs, while two officials dissented in favor of cutting.
Read more: Bitcoin Tumbles Below $116K as Jerome Powell Delivers Hawkish Remarks
Later in the session, BTC bounced back above $117,000, still 0.8% down through the day and trading at the lower end of its three-week tight range….
