Cryptocurrency markets saw $491M in liquidations as Bitcoin and Ethereum fell following the U.S. Federal Reserve’s latest policy update.
Bitcoin fell below $64,000 for the first time since early May, dropping 2.3% to $64,028 after the U.S. Federal Reserve’s rate decision. Ethereum followed, declining 3.01% to $1,734, as traders reacted to monetary policy signals.
The selloff triggered $491M in liquidations over the past 24 hours, with the broader crypto market cap shrinking to $2.30T. The Fear & Greed Index hit 15, signaling extreme fear, while Bitcoin dominance remained at 55.8%.
Altcoins underperformed, with the Altcoin Index at 48/100, though small-cap tokens like Syndicate and Yooldo posted triple-digit gains. Funding rounds for crypto startups continued, with Earnos and Trace Finance securing $12.5M and $32M, respectively.