Fed Hawkish Shift Sends Cryptocurrency Prices Plummeting

Cryptocurrency prices fell on Thursday as investors reacted to the Federal Reserve's hawkish pivot in policy. Bitcoin (BTC) dipped below $64,000, while Ethereum (ETH) dropped to an intraday low of $1,670.

Ethereum and other top altcoins such as XRP (XRP), Solana (SOL), and Dogecoin (DOGE) also declined, with long liquidations surging to 80% of total cryptocurrency liquidations in the last 24 hours.

The global cryptocurrency market capitalization dropped by 2.31% over the last 24 hours, reaching $2.17 trillion.