Bitcoin has dropped below $55,000 for the first time since February.
In the last 24 hours the total liquidations in the crypto market amounted to $650.46 million.
The largest single liquidation order was valued at $18.48 million
The US Dollar weakened as Jerome Powell's cautious disinflation remarks tempered market optimism.
Despite strong JOLTS data, Powell hinted at a slow inflation decline, suggesting a measured Fed approach. Investors now await Friday's Nonfarm Payrolls report for further insights.
The Federal Reserve is losing over $1 billion weekly due to high interest payments and reduced earnings on assets, resulting in a $176.4 billion deficit since September 2022.
The Japanese yen fell past 160 against the U.S. dollar on today, its weakest since late April.
On April 29, the dollar hit 160.24 yen, prompting a 9.8 trillion yen (61.64 billion dollars) intervention by the Japanese government and the Bank of Japan to stabilize the currency.
