Following remarks from Fed Chair Jerome Powell during the Federal Open Market Committee (FOMC) meeting, cryptocurrency markets experienced a substantial correction, with over $300 million wiped out from leveraged positions. Derivatives data and market analysts suggest this liquidation primarily affected long-held positions as traders anticipating further price gains were caught off guard by sudden price shifts. The timing closely followed Powell’s comments, which hinted at potential policy changes, triggering immediate volatility across major cryptocurrencies. Some platforms estimated over $300 million in liquidations within a short timeframe, emphasizing the risk associated with high leverage in volatile cryptocurrency markets.