Bitcoin, Ethereum Bulls Get Rekt: Liquidations Top $1.1 Billion as Prices Fall After Trump Meets Xi

Bitcoin and Ethereum experienced significant price drops, leading to liquidations exceeding $1.1 billion in the crypto futures market. This downturn follows U.S. President Donald Trump's meeting with Chinese leader Xi Jinping, which investors perceived as yielding no substantial outcomes. Bitcoin, which earlier reached an all-time high of $126,080 at the start of October, fell about 15% from that peak, trading below $108,000. Alongside Bitcoin, Ethereum dropped by approximately 5%, with major altcoins also suffering losses. The Federal Reserve's indication that it may not cut interest rates further this year also contributed to market uncertainty, as lower interest rates typically bolster crypto and stock performance. Analysts pointed to mixed signals following Trump's meeting and the Fed's stance as crucial factors affecting market sentiment, leading investors to reassess their positions. Despite this volatility, some experts remain optimistic, with predictions of future price increases for Bitcoin, citing a stronger market structure and diminishing volatility as potential catalysts.

Source 🔗