$550M Wiped From Crypto Market in 60 Minutes Amid Interest Rate Fears

The cryptocurrency market has experienced a significant correction after a major rally in August 2026. According to recent data, nearly $550 million worth of long positions were liquidated within the last 60 minutes.

This sudden shift raises questions about the sustainability of the rally that had boosted investor sentiment. The rally was sparked by President Trump's announcement at the White House that the US is considering purchasing a large amount of Bitcoin (BTC) and other cryptocurrencies, which led to a surge in prices.

However, if costs continue to remain high, the Federal Reserve may decide to hike interest rates, potentially leading to further investor exodus from the cryptocurrency market. Some experts have even predicted that Bitcoin (BTC) could fall to $40,000 by the end of this year before making an upward push.