Investors are feeling the pressure of a downturn in the crypto market, with over $614 million worth of long positions being liquidated following the market’s sharp decline. This comes after comments from Federal Reserve Chair Jerome Powell indicating continued cautiousness regarding monetary policy, as well as geopolitical tension stemming from the Trump-Xi meeting. The uncertainty has caused traders to de-risk, leading to a notable shift in sentiment. The Fear & Greed Index (FGI) rose from neutral to 34, a sign of rising investor anxiety. Bitcoin dropped by nearly 2.4% to around $110,322, while Ethereum slid by 2.7% to reach $3,919. This decline contributed to a market cap drop to $3.97 trillion, as the overall sentiment shifted from bullish to fearful. The liquidation numbers suggest that many traders were caught off guard by the sudden downturn.