The total cryptocurrency market capitalization fell 2% to approximately $2.9 trillion on Monday, September 28, after President Donald Trump rejected an Iranian proposal to reopen the Strait of Hormuz. This rejection pushed WTI crude oil above $93 and the 10-year Treasury yield above 5%, heightening inflation expectations and weighing on risk assets. Approximately $330.18 million was liquidated over 24 hours, including $230.65 million in long positions, primarily affecting Bitcoin ($79.24M), Ethereum ($51.93M), and XRP ($16.05M). The probability of a Fed rate hike at the October 28 meeting surged to 68.1%, up from 17.7% a month earlier, adding further pressure on the market.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
