BTC Plummets to Ten-Day Low, $700M in Liquidations as Market Rides FOMC Nerves

Bitcoin's Monday rally to $65,600 has come to an abrupt end as it plummeted to a ten-day low, dragging most altcoins down with it.

The sell-off triggered around $700 million in daily crypto liquidations, underscoring heightened market risk and short-term bearish pressure.

Bitcoin's price action is of particular note, having erased all gains from its earlier rally and falling to a ten-day low. Most altcoins have followed suit, resulting in the large number of liquidations.