Damn! The market crashed after the Fed's decision, with $1.7 billion getting liquidated in a single day!

The market has just experienced a bloodbath. After the Fed's interest rate decision in September, the crypto market did not welcome the expected jubilation but instead faced an astonishing wave of liquidations—within 24 hours, the total liquidation amount across the network reached 1.7 billion USD, with long positions accounting for 1.616 billion.

What’s even crazier is that within just four hours, $1.09 billion in long positions were liquidated. This speed and scale clearly indicate one thing: market confidence has completely collapsed. Over 400,000 traders were affected in this massacre, and a single BTC-USDT-SWAP order on one exchange faced a liquidation of $12.74 million.

Interestingly, the liquidation amount of ETH at $492 million actually exceeded BTC's $284 million. Altcoins are indeed more fragile during downturns, which also confirms a brutal reality – when the market turns, altcoins run faster than anyone else.

Analysts are now beginning to discuss a sensitive topic: this round of bull market may really be over. The logic is simple, the benefits of the Fed's interest rate cuts have long been digested by the market, and after the policy was implemented, there were no new catalysts, leading to a frenzy of profit-taking. Coupled with various uncertainties in the macro economy, inflationary pressures, and a slowdown in the global economy, the attractiveness of risk assets has plummeted.
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