- $614M in long positions liquidated amid market drop
- Sentiment turns to fear with FGI sliding to 34
- BTC and ETH prices fell over 2% each
The crypto market took a hit following the Trump–Xi meeting and comments from Fed Chair Jerome Powell. These events have stirred uncertainty among investors, leading to sharp market reactions. As a result, a total of $614 million in long positions were liquidated, suggesting that many traders were caught off guard by the downturn.
The Federal Open Market Committee (FOMC) remarks hinted at continued caution in monetary policy, with Powell avoiding any strong pivot on rate cuts. Meanwhile, the geopolitical tension from the Trump–Xi summit added more fuel to market jitters, causing traders to de-risk aggressively.
Bitcoin and Ethereum Drop as Sentiment Turns to Fear
Bitcoin ($ BTC ) dropped 2.4% to around $110,322, while Ethereum ($ ETH ) slid 2.7% to $3,919. These declines contributed to an overall market cap drop to $3.97 trillion. The Fear & Greed Index (FGI) fell from neutral to 34, signaling rising investor anxiety.
This downturn led to total liquidations reaching $818 million, with long positions making up the bulk. The shift shows a significant pullback from bullish sentiment, as traders now prioritize safety amid growing global uncertainty.
