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There is neither news of a ban nor a bad signal from the FED. But the picture is clear: billions of dollars have been silently wiped out. 500 million dollars in Long positions have been liquidated. There are drops of up to 20% in altcoins.
In the past, there used to be an excuse for the dumps. Now market makers are unloading early without even waiting for Powell's speech and the inflation data coming next week.