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The crypto market slid on Wednesday as Bitcoin (BTC) fell 1.7% to about $84,100 and Ethereum (ETH) dropped 3.5%. Leveraged traders had piled back in, so the dip forced out $403.58 million in long bets within an hour.

Add preferred source The Federal Reserve raised its policy rate to a range of 3.75% to 4.00%, and Grayscale’s research division said the impact on cryptocurrency markets will be limited. The asset manager characterized the hike as a “mid-cycle adjustment” and argued that the one or two rate increases expected during 2026 are unlikely to…