Cryptocurrency prices have plummeted, with Bitcoin dropping 7% to $97,000, Ethereum down nearly 12% to $3,422, and Dogecoin tumbling 20% to $0.31. This market correction, triggered by Federal Reserve Chair Jerome Powell's inflation comments, resulted in over $1.2 billion in liquidations, primarily from long positions. Despite the downturn, meme coin Fartcoin surged 71% in the past week, highlighting the ongoing volatility in the crypto sector.
