The crypto market experienced a $600 million liquidation flush over the past 24 hours, with over $570 million coming from long positions alone, marking the biggest long-liquidation wave since August 22. The total crypto market cap shed more than $120 billion, dropping to $2.54 trillion. Bitcoin fell below the $75,000 level for the first time since August, while XRP declined 9.2% to $1.29, Ethereum fell 4.3% to $2,402, and Solana dropped to $97.10. U.S. Treasury yields pushed above 5% and ETFs saw over $450 million in outflows on September 15. The FOMC meeting and expectations of additional rate hikes by year-end continue to pressure risk assets, though the market is showing relative resilience that could help absorb these shocks.
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