Fed FOMC battle royale: Bitcoin hits $74,900, 120,000 liquidated for $550 million

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After the FOMC kept interest rates unchanged, the crypto market experienced significant volatility. BTC held steady around $76,000, while ETH pulled back to $2,271. Over the past 24 hours, more than 120,000 people across the network were liquidated, totaling $550 million, with long positions being the primary victims. (Previous coverage: Bitcoin briefly fell below $75,000, Ethereum dropped near $2,200! Hawkish FOMC statement takes effect) (Background: Bitcoin plunged, breaking below $76,400; long positions wiped out, 100,000 people liquidated for $338 million) Bitcoin experienced a volatile ride following the FOMC, surging to $77,904.93 in the past 24 hours before pulling back to test a low of $74,937.52. As of this morning (30th), it was trading at approximately $76,275.80, a slight 24-hour gain of 0.03%. Ethereum saw even more intense volatility, reaching a 24-hour high of $2,346.95 before dipping to $2,220.36; it is currently trading at approximately $2,271.11, down 0.49% over 24 hours. According to liquidation data synced from the CoinGlass page, a total of 120,284 traders were liquidated over the past 24 hours, with total liquidations reaching $550.62 million. Of this, $346.01 million were long liquidations and $204.61 million were short liquidations, with long positions accounting for approximately 62.8%, indicating that this wave of volatility primarily punished capital chasing long positions. Looking at the shorter term, $378.99 million was liquidated over the past 12 hours, with long positions accounting for $305.22 million. In the last 4 hours, $20.02 million was liquidated, with short positions accounting for $17.59 million, reflecting a short-term rebound after the sharp decline. The largest single liquidation occurred on Binance ETHUSDT, amounting to $7.9 million. The main driver of this volatility remains the Fed. The US Federal Reserve announced on April 29 that it would maintain the benchmark interest rate in the 3.5% to 3.75% range. The market had already expected no rate cut, but conflicts in the Middle East and rising energy prices have made "how many more rate cuts this year" a greater uncertainty. US stocks also showed a wait-and-see pattern at the close: the S&P 500 fell slightly by 2.85 points to 7,135.95, the Dow Jones fell 280.12 points to 48,861.81, and the Nasdaq rose slightly by 9.44 points to 24,673.24. AP noted that Brent crude oil surged nearly 6%, which also pushed up US Treasury yields, dampening market bets on Fed rate cuts this year. Another pressure comes from ETF capital flows. According to SoSoValue data, US spot Bitcoin ETFs saw a net outflow of $89.68 million on April 28, with BlackRock IBIT seeing an outflow of approximately $112 million; spot Ethereum ETFs also saw an outflow of $21.8 million. This left the market with less institutional buying support around the FOMC. Quotation data shows that the 14-day peak for BTC remains at $79,321.16 on April 23 at 00:01, not a new high set today; the 14-day high for ETH is $2,451.21 on April 18 at 01:00. In other words, today's market performance is more like a volatile recovery after the FOMC, rather than a fresh breakout above previous highs. Other major coins also failed to show a clear direction. SOL is currently trading at approximately $83.83, down 0.05% over 24 hours, with a range between $81.40 and $85.56; XRP is currently trading at approximately $1.3787, up 0.01% over 24 hours, with a range between $1.3458 and $1.4067. The 14-day high for SOL is $90

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