Crypto
Bitcoin Tumbles Below $84K as Rate Hike Fears and Liquidations Mount
Bitcoin fell below $84,000 on September 24 amid concerns over additional U.S. rate hikes and a wave of forced liquidations.
The U.S. September composite PMI came in at 58.4, exceeding market expectations, while Treasury yields jumped, dampening appetite for risk assets.
Over the past 24 hours, the crypto market saw $510 million in total liquidations, with long-position liquidations reaching $363.83 million.
The heavy liquidations of leveraged long positions added to the downward pressure on Bitcoin and other major altcoins, including Ether, XRP, and Solana.