In the past 60 minutes, over $112 million longs have been liquidated as traders de-risk in anticipation of the FOMC minutes.
Bitcoin slipped below the $90,000 psychological levels, blowing millions in long positions out of the water.
$115 Million Longs Wiped Out Amid FOMC Minutes Jitters
Data on Coinglass shows that over $112 million in long positions have been liquidated over the past hour. These positions were flushed out as the Bitcoin price dipped below the $90,000 psychological level, testing a seven-month low.
Meanwhile, the drop was not limited to the Bitcoin, as crypto stocks also registered losses, following the pioneer crypto’s fall to a 7-month low.
It comes ahead of the October FOMC minutes, which is barely an hour out, suggesting investors are de-risking.
Beyond crypto and related stocks, indices were also down, with the Nasdaq and S&P 500 turning negative.
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