Crypto Liquidations Top $400M After Jerome Powell Leaves Rates Unchanged On Inflationary Pressures From Trump Tariffs
Over $400 million was liquidated from the crypto market in the last 24 hours after US Federal Reserve Chair Jerome Powell opted to keep interest rates unchanged at 4.25-4.5%. According to Powell, there are still inflationary pressures present from the trade tariffs imposed by US President Donald Trump on nations around the world. “Higher tariffs have begun to show through more clearly to prices of some goods, but their overall effects on economic activity and inflation remain to be seen,” Powell said during a press conference. Not all Fed officials agreed with Powell, however, with two officials voting in favor of a rate cut. Bitcoin And Ethereum Positions Take The Biggest Knock Data from CoinGlass shows 24-hour liquidations soared to over $429 million. Most of these liquidations were long positions, with $327.21 million being wiped out from these trades. Meanwhile, $102.52 million got liquidated from short positions. Crypto market leaders, Bitcoin (BTC) ...