Powell’s Hawkish Stance Crushes Bitcoin Below $116K—$200M Crypto Wiped Out in Liquidations

Jerome Powell just threw ice water on crypto's bull run. The Fed chair's latest remarks sent Bitcoin tumbling under $116K—and triggered a bloodbath of $200M in leveraged positions.

Market carnage after Fed speaks

Traders got a brutal reminder that macro still rules crypto. Powell's commitment to 'higher for longer' rates vaporized bullish momentum faster than a meme coin rug pull.

Liquidation domino effect

The $200M flush-out hit over-leveraged longs chasing the rally. Another case of 'when the tide goes out' exposing who's swimming naked—or in this case, overexposed on 100x contracts.

Silver lining for diamond hands?

This shakeout might actually be healthy. Weak hands got washed out while fundamentals stay strong. But for now, the market's screaming one thing: don't fight the Fed. (Even if their economic models still use fax machines.)