XRP, SOL, ETH, DOGE News: Traders Take on $800M Liquidations as Fed’s Caution Sparks ‘Sell-the-News’ Reversal

The crypto market experienced significant volatility with Bitcoin dropping to nearly $108,000 before recovering to above $110,000, amid $817 million in leveraged futures liquidations, mainly affecting long positions. The Federal Reserve's expected 25-basis-point rate cut was overshadowed by Chair Jerome Powell's cautious remarks, dampening market optimism. Analysts indicate that the resulting sell-off represents a 'sell-the-news' scenario. The wave of liquidations, which impacted around 165,000 traders, could be a sign of market capitulation. While macroeconomic conditions appear to favor Bitcoin's growth, overall market sentiment remains cautious due to persistently high inflation and geopolitical tensions. XRP also faced a pullback after failing to break the $2.67 resistance level, decreasing to $2.59 with increased trading volume suggesting profit-taking by large holders. Despite this volatility, expert opinions hint at potential upward movement for Bitcoin and Ethereum if liquidity increases in the coming months.

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