Crypto Slumps 2.9% As Fed Decision And Liquidations Hit

The crypto market fell 2.9 percent over the past 24 hours, pushing the total market value down to $2.16 trillion. Bitcoin led the broad market selloff, pulling major altcoins down with it as caution spread across the board. Traders felt the pain quickly, with over $670 million in positions wiped out during the sudden drop.

Market anxiety is coming from a few different directions right now. Investors are growing nervous about uncertainty surrounding the United States Clarity Act. At the same time, everyone is watching the calendar ahead of the Federal Reserve interest rate decision coming up on July 29. These macroeconomic worries tend to make traders pull back their risk.

For now, the market is sitting in a fragile spot as people wait for the Fed to make its next move. Watch for choppy price action and high volatility in the coming days. If support levels hold, the market might stabilize before the big interest rate announcement.