Bitcoin and other top cryptocurrencies experienced a significant drop in price, with Bitcoin falling over 6% and Ethereum dropping about 8%. The correction coincides with investors awaiting a speech by Federal Reserve Chair Jerome Powell, which is anticipated to provide guidance on future monetary policy. The dip in prices has led to the closure of long positions, resulting in approximately $617 million in liquidated positions across all cryptocurrencies. Despite the recent dip, major digital coins and tokens have seen significant gains since Donald Trump's election victory, as he has expressed support for the crypto industry.



Other News from Today