Bitcoin's price decrease to $88,000 from $93,000 resulted in over $120 million liquidations, reflecting ongoing volatility in the cryptocurrency market amid profit-taking.
XRP surged by 17% as regulatory pressures eased, with optimism growing around a crypto-friendly environment, prompted by a lawsuit against the SEC by 18 states.
Fed chair Jerome Powell's remarks indicated a careful approach to interest rate decisions, suggesting that the current economic strength does not necessitate hasty cuts.
The market's expectation for a 25 basis point cut in December dropped to 66% from 83%, following Powell's hawkish comments, impacting overall crypto prices.
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