The crypto market is once again facing selling pressure today. In the past 24 hours,
the price of Bitcoin has fallen by about 3% to $107,500.
This downward trend is also observed for major altcoins such as Ethereum, Solana, Ripple, and Binance Coin, with total liquidations reaching around $320 million. Of this, $250 million is related to long positions.
However, Anchin’s data suggests that the downside may be limited as Bitcoin outflows from exchanges have increased, indicating a decrease in investors’ willingness to sell and move assets to cold wallets. This move usually signals increased investor confidence.
Meanwhile, the imminent end of the US government shutdown and rising expectations for a Federal Reserve interest rate cut have made the market outlook mixed and cautious.
Overall, experts believe that there is a possibility of a 50 basis point interest rate cut before the end of 2025, which could help Bitcoin and other cryptocurrencies resume their bullish trend.
