<\/p>\n
Leveraged liquidations top $1.2 billion as ETH, SOL and major altcoins plummet.<\/p>\n
Crypto markets plunged again on Thursday as mixed signals from the Federal Reserve and underwhelming results from the long-awaited meeting between President Trump and Chinese President Xi dampened investors’ appetite for risky assets.<\/p>\n
BTC fell for a fourth straight day, trading as low as $106,800 at the time of writing. Looking at major altcoins, ETH dropped another 6% in the past 24 hours to $3,760, while SOL and XRP lost 7% and 7.5%, respectively, in the same timeframe.<\/p>\n Meanwhile, the total crypto market capitalization dipped 3.5% to $3.7 trillion, with over $1.1 billion of leveraged long positions liquidated over the past day.<\/p>\n Among the Top 100 digital assets by market capitalization, MemeCore (M) is up 13%, making it the only non-stable asset to post gains on the day, according to CoinGecko.<\/p>\n ASTER, Ethena (ENA), and PENGU are today\u2019s biggest losers, dropping by 17%, 15%, and 13%, respectively.<\/p>\n The volatility is likely being driven by mixed signals from the Federal Reserve, as the U.S. central bank cut interest rates by a quarter percentage point on Wednesday, but indicated that further cuts aren\u2019t guaranteed.<\/p>\n \u201cA further reduction in the policy rate at the December meeting is not a foregone conclusion, far from it,\u201d said<\/a> Fed Chair Powell at the press conference following the Fed\u2019s announcement.<\/p>\n The odds of a December cut have since dropped to 73% as of today, down from 91% a week ago, according to CME FedWatch<\/a>.<\/p>\n U.S. President Donald Trump finally met with Chinese President Xi Jinping on Thursday in South Korea, following weeks of uncertainty surrounding the ongoing trade war between the world\u2019s two largest economies.<\/p>\nDecember Rate Cut Odds Drop<\/h2>\n
Trump Meets Xi<\/h2>\n