Bitcoin risks '20%-30%' drop as crypto markets liquidate $1.1B in 24 hours

Bitcoin fell to the bottom of its local range as traders lost over $1 billion as a result of the surprise BTC price downside after the Fed interest-rate cut.

Key points:

Bitcoin revisits the bottom of its local range in a fresh dive after the Federal Reserve interest-rate cut.

Traders betting on upside get punished, with long liquidations nearing $1 billion.

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