Massive $170 Million Liquidations Hit Crypto Market Ahead of Fed Announcement

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Crypto investors brace for Fed outcome amid $170 million market liquidations

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions.

The Federal Reserve's July meeting begins Tuesday and ends Wednesday, with a monetary policy decision and press conference by Fed Chairman Jerome Powell.Markets broadly expect the central bank to leave interest rates steady this week, but many investors are hopeful that policymakers will provide new signals about the outlook for rates.

This Tuesday is expected to see the release of key economic data. Later this week, ADP's private payrolls report is due, as well as the July jobs report, which includes nonfarm payrolls and unemployment statistics.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.

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