$1B Liquidated as Bitcoin Falls Before Fed Chair Speech

Bitcoin fell sharply today, slipping under $112,000 before bouncing back slightly — www.naijnaira.com reports.

Data from Watcher.Guru confirmed that over $1 billion in crypto longs were liquidated in just 30 minutes, leaving many traders unsettled by the sudden move.

The drop comes only days after the U.S. Federal Reserve trimmed interest rates by 25 basis points, which briefly pushed Bitcoin as high as $117,000.

That momentum didn’t last, with sellers quickly overpowering buyers and driving BTC down more than 3% over the weekend.

At the moment, Bitcoin trades near $113,000 per coin, still well below last week’s peak.

Jerome Powell’s upcoming speech is keeping investors on edge, with analysts watching closely for any signal about the Fed’s next steps.

Traders fear a repeat of last week, when Powell warned that decisions will remain “data-dependent”, cutting short optimism about the rate cut.

The U.S. core PCE inflation report due Friday adds another layer of uncertainty, with forecasts pointing to a 2.7% annual rise and a 2.9% core increase.

Technical charts suggest further weakness, with Bitcoin’s MACD sliding into bearish territory and RSI slipping below the neutral line.

Support around $114,000 has already given way, and the next key level sits near $110,000, where bulls are trying to hold the line.

Failure there could drag BTC toward $107,300, while a rebound could fuel another push to $116,000 and possibly last week’s $118,000 high.

For now, the market remains volatile, with Powell’s remarks tomorrow expected to set the tone for the rest of the week.