Crypto slides ahead of the Fed as $682 million in positions are liquidated
Bitcoin fell 3.15% to about $63,235 on July 28 while Ether, XRP and Solana dropped harder. ETF outflows and rising Treasury yields kept traders defensive.
Bitcoin fell to roughly $63,235 on Tuesday, July 28, down 3.15% over 24 hours as investors reduced risk before the Federal Reserve's decision. Ethereum declined 3.87% to about $1,878, while XRP and Solana each lost more than 4%.
The sell-off accelerated through leveraged markets. CoinGlass data cited in the report showed nearly $682 million in liquidations across 165,529 traders in 24 hours. Spot Bitcoin ETFs had also recorded more than $465 million in recent outflows, adding to doubts about the strength of institutional demand.
Rising Treasury yields and delayed progress on the CLARITY Act added to the caution. Analysts identified the $62,500–$63,000 area as Bitcoin's first important support zone, while a recovery above $66,000–$68,000 would be needed to restore stronger bullish momentum.