The cryptocurrency market experienced a sell-off, resulting in $787 million worth of liquidations across various digital assets. Dogecoin (DOGE) was hit particularly hard, losing $29 million in liquidations. This downturn coincided with significant losses in Bitcoin and other major cryptocurrencies, possibly due to macroeconomic concerns and profit-taking by traders. The Federal Reserve's cautious outlook for interest-rate cuts also contributed to the bearish sentiment. The crypto market faced selling pressure as the Fed's signal of fewer rate cuts caused uncertainty. This led to $787 million in liquidations, with bullish bets accounting for $661 million and shorts accounting for $125 million.



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