FOMC - Over $160M Liquidated In Crypto After Fed Keeps Interest Rates Unchanged | Benzinga
Over $160 million in cryptocurrency futures were liquidated, following the latest monetary policy decision from the Federal Reserve.
What Happened: The U.S. central bank maintained its key interest rate for the third consecutive time, signaling potential rate cuts in the coming years, starting from 2024 onwards.
The Federal Open Market Committee reached a consensus to hold the benchmark overnight interest rate steady within the 5.25% to 5.5% range as inflation shows signs of subsidence while the economy remains stable.
Tracking the effects on the crypto market, data from CoinGlass indicated that over 56,202 traders were caught in a sweep that saw a total of ...