Bitcoin Down as Long Liquidations Pick Up — Market Talk

Bitcoin is down 3.3% to $62,616, with liquidations of long positions seeming to pick up in the past hour, according to data from CoinGlass. Some $62.2 million-worth of long positions have been liquidated in the last hour, which is a big pickup from earlier in the day. By comparison, only $1.1 million in short positions have been liquidated, says CoinGlass. Bitcoin did get a boostin reaction to the Federal Reserve's decision to leave interest rates unchanged on Wednesday, but that enthusiasm seems to have been sapped. "The near-term disagreement is now more about the timing of any hike than whether inflation has fully returned to target," says Coinbase Institutional in a note. Ethereum is down 3.2%, XRP is down 1.9%, and solana falls 2%. ([email protected])