Bitcoin slips to $111K after Fed's rate cut: $179M in long positions wiped out

Bitcoin's cryptocurrency market experienced significant turbulence as the leading digital asset plummeted to $111,000 following the Federal Reserve's latest monetary policy announcement. The sharp price decline triggered massive liquidations across cryptocurrency exchanges, with long positions worth $179 million being wiped out in the market selloff. The Bitcoin price crash coincided with the Federal Open Market Committee (FOMC) statement and Fed Chair Jerome Powell's cautious stance on future rate cuts. This cryptocurrency market volatility demonstrates how traditional monetary policy continues to heavily influence digital asset prices and blockchain investments. The massive liquidation event highlights the leveraged nature of cryptocurrency trading, where traders using borrowed funds to amplify their Bitcoin positions faced forced selling when prices moved against them. This cascading effect is common in volatile crypto markets, particularly during Federal Reserve policy announcements. Market analysts are closely monitoring Bitcoin's support levels and potential recovery patterns, as the cryptocurrency's correlation with traditional financial markets remains strong. The DeFi sector and broader cryptocurrency ecosystem continue to react to macroeconomic factors, emphasizing the interconnected nature of digital assets and conventional monetary policy decisions.