🔥 180 million USD liquidation in one hour! The bulls have been wiped out again and again 💀

This early morning wave took Bitcoin $BTC straight to $62,624, and Ethereum $ETH couldn't hold the 1700 level either.

The data is very real — in the past 24 hours, the entire network liquidated $578 million, with long positions accounting for $496 million.

Largest single liquidation order: ETH $7.4 million, no single order exceeded that.

👀 What happened?

The Federal Reserve just finished a meeting, keeping interest rates unchanged (3.50%-3.75%).

But new Chair Powell immediately cut the forward guidance, and the dot plot shows nine officials expect rate hikes before the end of the year — three months ago, they were predicting rate cuts, now they’ve done a 180-degree turn. Employment data is particularly strong, with initial jobless claims dropping to 226k. Seeing this, the market is rushing to risk assets.

⚡ A reversal is coming

However, news from Iran and the US about 14 consensus points has been released, and today they were officially signed. Oil prices have fallen back, easing inflation pressures. This is the only variable that could potentially reverse the situation in the short term.

📊 How to look at the technicals

In the short term, watch if Bitcoin can hold at $62,600.

Ethereum is more troublesome; it has broken below the lower band of the hourly ascending channel, with the next support at $1,580. It previously surged to $1,848 and has been retracing since, even breaking below the lower Bollinger Band.

💡 Let’s be practical

In this kind of market, survival is more important than how much you make. Leverage is a double-edged sword; if you’re right, you eat meat, if wrong, you lose a fraction of today’s $578 million. The current rhythm is to watch more and act less, waiting for signals. If $63,000 doesn’t hold, the next support is $60,000.

🧐 Comment below: Do you think ETH can hold at $1,580 this time? Or will it drop to $1,500?

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