As the sun sets on another tumultuous day in the crypto world, the market feels the heat of volatility as over $1.1 billion in liquidations strike. Bitcoin (BTC), once soaring to dizzying heights above $100,000, suddenly fell by 8% amid the Federal Reserve's latest policy shifts, an unexpected blow that turned investor sentiment cautious and bearish. The spillover was felt across the board, dragging down major cryptocurrencies like Ethereum (ETH) and Dogecoin (DOGE) as the market's global cap shrunk by a striking 9.53%, painting the day in ominous red tones. Dogecoin found itself particularly bruised, shedding 19% in value and incurring liquidations amounting to $35 million. This sell-off intensified following remarks by Fed Chair Powell, accelerating the tumult in an already volatile market. As if echoing this distress, Bitcoin and Ethereum saw mixed fortunes in their respective ETFs. Despite historic outflows in Ether ETFs, Bitcoin managed to claw in $275.39 million in spot ETF inflows, sparking some hope amid the market's otherwise jittery stance. Meanwhile, El Salvador stood firm on its crypto journey, undeterred by its deal with the IMF that frowns upon further Bitcoin ventures. The nation hasn’t just stopped at accumulating 6,203 Bitcoins; there's chatter of possibly parting with the official Chivo wallet. Though critics remain skeptical, the Salvadoran crypto drive continues unabated, setting a bold precedent in a time of caution. In a move to bolster Ethereum’s efficiency, validators champion a gas limit increase, targeting reduced transaction fees. However, this proposal has raised concerns about potential centralization risks and network pressure, dividing opinions within the community. As 10% of validators signal support, the discussion morphs into a crucial debate about Ethereum's future. The sector's regulatory landscape also sees shifts, with Copper Technologies retracting its UK license pursuit amidst the FCA’s increasing scrutiny. Instead, it banks on expanding its reach in the US, Europe, and the Middle East, sidestepping Britain's rigorous financial environment for potentially broader opportunities elsewhere. Adding to the day's drama, Tornado Cash finds itself in the legal spotlight as co-founder Roman Storm battles criminal charges deemed unjust by the court. Over in the social media arena, Vivek Ramaswamy’s X account hack unleashed fake partnership claims that temporarily surged USUAL’s price, a sobering reminder of the vulnerabilities lurking in the crypto space. On a lighter note, Shiba Inu links arms with Chainlink to fortify its multi-chain ecosystem, aiming for superior interoperability and data integration, a step forward in its Web3 strides. Similarly, in France, BPCE’s crypto arm, Hexarq, wins regulatory favor, setting sights on introducing crypto investments by 2025—a move that might cement France's leadership in EU digital asset governance. As evening casts its shadow, the global crypto narrative remains as dynamic as ever. Each headline today weaves into a larger saga of innovation, speculation, and the relentless push and pull of market forces as the ecosystem edges towards a new dawn.
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📈💰The Federal Reserve announced today that it will maintain its current interest rates, citing a strong job market and moderate economic growth. This decision comes as no surprise to those in the crypto community, as many have been anticipating this outcome for weeks. However, this news may have some investors feeling slightly disappointed, as they were hoping for a rate cut to boost the market.💸💻Crypto tickers such as BTC, ETH, and XRP have been trending upwards in recent weeks, with many investors hoping for a continued bull run. However, with the Fed's decision to keep interest rates steady, some may be wondering if this will have a negative impact on the market. While it's impossible to predict the exact effect on crypto prices, it's important to remember that the Fed's decision is based on a variety of factors and not solely on the crypto market.📉🌎The Fed's decision also has implications for the stock market, with many investors closely watching the anno...
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