Crypto Market Capitalization Plummets Following Fed Meeting

The crypto market has experienced a substantial downturn in recent days, with a decline of nearly $100 billion in less than 24 hours. This decline is largely attributed to the hawkish sentiment emanating from the Federal Reserve's meeting on Wednesday.

The total market capitalization has fallen from just below its six-week high of $2.61 trillion to around $2.52 trillion, with a significant number of traders experiencing losses.

According to reports, over 136,000 traders have been affected by the downturn, with total liquidations amounting to $452 million. The majority of these losses are attributed to leveraged long positions in Bitcoin.