A drop in Bitcoin (BTC) price to $66,000 would result in $250 million in cryptocurrency liquidation. Traders prepare for FOMC, CPI reports

Altcoins have seen much bigger declines over the same period. The broader market cryptocurrency market benchmark CoinDesk 20 index fell more than 6%, with all 20 components in the red. Ethereum’s Ether (ETH) fell below $3,500, down 6.5%, while Solana (SOL), Dogecoin (DOGE), Cardano’s ADA, and Chainlink’s LINK suffered losses of 6-9%. .