Bitcoin falls 2.5% to $83,470 amid $609 million liquidations, altcoins fall
Business
Bitcoin slid 2.5% to $83,470 on Wednesday after a wave of forced sell-offs hit the crypto market.
Big names like Ether, XRP, and Solana also took a hit, dropping up to nearly 5%, as around $609 million in leveraged trades were liquidated in just 24 hours.
Markets await Fed minutes on rates
Tensions in the Middle East and rising oil prices have everyone on edge, while US stock futures are also slipping.
All eyes are now on the Federal Reserve's meeting minutes for hints about interest rates.
Analysts warn that if Bitcoin dips below $83,000, it could fall further.
Traders are watching the release of Federal Reserve meeting minutes later on Wednesday for clues to the outlook for interest rates.