Bitcoin and most cryptocurrencies retreated on Tuesday as geopolitical risks intensified ahead of the upcoming Federal Reserve interest rate decision.

Bitcoin (BTC) dropped from this week’s high of $108,915 to an intraday low of $105,500. Ethereum (ETH) retreated by over 2.2%, while the total market capitalization of all cryptocurrencies declined to $3.28 trillion.

Additional data shows that crypto liquidations surged by 25% in the past 24 hours to over $359 million. Some of the top laggards were coins like SPX6900 (SPX), Immutable (IMX), Fartcoin (FARTCOIN), Pepe (PEPE), and Worldcoin (WLD).

The ongoing sell-off in the crypto industry mirrored that of the stock market, as the Dow Jones and Nasdaq 100 indices…