Fed Chair Powell's worries about the economy and inflation just triggered a crypto bloodbath. Yeah, they cut rates by 25 basis points and promised to scoop up $40 billion in Treasury bills this month, but the market wasn't buying the optimism.

Bitcoin crashed to $90,246, down 2.6%. Ethereum got hit harder at $3,204, shedding 3.5%.

The Fear & Greed Index? Nosedived from 29 straight into Fear territory. Total market cap now sits at $3.26 trillion while liquidations piled up to a brutal $515 million.

Turns out, dovish policy can't always save the day when macro headwinds blow this hard.