Major cryptocurrencies experienced a sharp correction on Monday evening, erasing all recent gains and triggering approximately $700 million in liquidations over 24 hours. Bitcoin dropped to $63,000, its lowest level since July 17, while ether shed $100 to fall back below $1,900 and XRP tumbled 4.5% to $1.06, breaking below the $1.10 support. Over 165,000 overleveraged traders were liquidated in the past 24 hours, a market move largely driven by uncertainty ahead of the US Federal Reserve’s interest rate decision scheduled for Tuesday.
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