The market collapsed after the Fed's decision, with $1.7 billion liquidated in a single day! This is the largest single-day liquidation of long positions since 2021, with a total of 407,480 people getting liquidated globally! After the Fed's interest rate decision in September, the crypto market did not welcome the expected celebration, but instead faced an astonishing wave of liquidations—within 24 hours, the total liquidation amount reached $1.7 billion, with long positions accounting for $1.616 billion. What’s even crazier is that $1.09 billion in long positions were liquidated in just four hours. Alts proved to be even more fragile during the decline, confirming a harsh reality—that when the market turns, alts run faster than anyone else. Currently, the market is beginning to discuss a sensitive topic: this bull run may really be over. The logic is simple; the favorable information from the Fed's rate cuts had already been fully digested by the market, and after the policy was implemented, there were no new catalysts, leading to a massive outflow of profitable positions. Coupled with various uncertainties in the macro economy, inflationary pressures, and a global economic slowdown, the attractiveness of risk assets has plummeted.