Bitcoin's Price Volatility Continues Amid Fed's Interest Rate Speculations.

Bitcoin experienced significant volatility after the US Federal Reserve hinted that it may stop interest rate hikes. Fed Chair Jerome Powell suggested that the day's interest rate hike may be the last, leading to fluctuations in BTC/USD. Powell stated that "some additional policy firming may be appropriate" instead of "ongoing rate increases." Bitcoin initially saw local lows of $27,867 before returning to trade above $28,000, only to continue falling as markets digested Powell's responses to press inquiries. The total crypto liquidations for the day were $36 million and $78 million for shorts and longs, respectively.