Fed Chair Kevin Warsh triggers a $488 million crypto liquidation cascade as rate-hike expectations rise

Comments attributed to Fed-related figure Kevin Warsh pushed up rate-hike expectations and triggered a reported $488 million in crypto liquidations. The cascade primarily hit leveraged positions and produced a rapid, volatile downmove in Bitcoin and other digital assets. The incident underscores Bitcoin's heightened sensitivity to Fed signals and macro-rate expectations; sustained hawkishness risks further deleveraging and downward pressure on BTC as liquidity tightens.