The crypto market saw liquidations jump to $433 million following the Fed’s decision to keep interest rates steady, with Bitcoin price dropping below $116,000.
Crypto markets have been on the edge as Fed Chairman Jerome Powell decided to keep interest rates unchanged. Bitcoin BTC $114 068 24h volatility: 3.1% Market cap: $2.27 T Vol. 24h: $65.93 B price took a dive under $116,000 before recovering back above $18,500. Similarly, altcoins are seeing some volatility, with total crypto market liquidations soaring to $450 million.
Crypto Market Liquidations Soar Amid Volatility
Following the decision to delay to Fed rate cuts by chairman Jerome Powell, the crypto market reacted negatively initially. After Bitcoin and altcoins also faced some shakeup before recovering the lost ground. This comes as the White House releases the much-awaited Crypto Policy report on July 30.
According to the CoinGlass data, a total of $433 million in crypto liquidations happened, with Ethereum ETH $3 565 24h volatility: 5.4% Market cap: $429.00 B Vol. 24h: $42.34 B leading through more than $103 million in long liquidations over the last 24 hours. In the past few days, ETH price has oscillated in the range of $3,600-$4,000.
Crypto market analysts continue to remain optimistic despite the current volatility. Popular analyst Ali Martinez identified a critical support level for Bitcoin at $105,450, for the bulls to defend.
Martinez noted that if Bitcoin price defends this support, it could rally toward $125,230 and potentially extend the move to $141,770, based on the Short-Term Holder Cost Basis. The analysis comes amid heightened market volatility, with investors closely monitoring key technical levels.
As long as the $105,450 support holds, Bitcoin $BTC could be on track for a move to $125,230 and potentially $141,770, based on the Short-Term Holder Cost Basis. pic.twitter.com/AHk2e3YHT3
— Ali (@ali_charts) July 31, 2025
Another popular analyst, Michael van de Poppe, stated that investors should not worry much about the FOMC outcome. “The first move after the FOMC is almost always a fake move on Bitcoin and Altcoins. It traps everyone, and then it rotates the other way around,” wrote Poppe.
Jerome Powell Holds Firm on Interest Rates at FOMC Meeting
At the FOMC meeting on July 30, the US Federal Reserve opted to keep interest rates unchanged in the 4.25% to 4.5% range, citing persistent uncertainty around the economic outlook.
Fed Chair Jerome Powell noted that rising tariffs are beginning to impact consumer prices in certain product categories. He did not rule out holding rates steady again at the next FOMC meeting in September. “We have made no decisions about September, we don’t do that in advance,” he said.
Powell emphasized that future decisions will hinge on incoming economic data over the next two months. Despite significant pressure from the Trump administration on his resignation, Powell has stood his ground on keeping interest rates unchanged.
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