Bitcoin (BTC) is fighting to stay above the psychologically important $90,000 mark, and it's not exactly winning. The broader crypto market isn't offering much help either, as traders adopt a wait-and-see approach before Wednesday's Federal Reserve meeting.

Here's where the major cryptocurrencies stood:

The Carnage Continues

According to Coinglass data, 96,599 traders were liquidated in the past 24 hours for a total of $280.18 million. That's a lot of forced selling and painful lessons about leverage. On the brighter side, top gainers over the period included Zcash, Canton, and Dash.

What's Moving the Market

Several major developments are shaping crypto sentiment right now. Ripple secured significant Wall Street backing for its massive $500 million funding round. Meanwhile, Robinhood (HOOD) expanded trading pairs for XRP, Dogecoin, and Solana in European markets and announced its entry into Indonesia, pushing HOOD shares up 1%.

On the mining front, BitMine added 138,000 ETH to its holdings, though BMNR remains down 60% from its highs. Strategy bought its biggest Bitcoin stack in five months, but MSTR still can't seem to catch a break.

Traders Sound the Alarm

Crypto trader KillaXBT warned that Bitcoin may be repeating a 2022-style pattern that could trigger another major leg down. The trader is targeting a deeper retracement into the $50,000–$60,000 range from swing shorts initiated at $123,000. A short-term relief bounce toward $95,000–$96,000 remains possible, especially if rate cuts align with expected macro pivots between the 10th and 14th. If price action diverges from this fractal pattern, he plans to reassess at those critical zones.

CryptoCon highlighted an interesting historical pattern: Bitcoin rallied for 152 weeks from its November 2022 cycle low to the October 2025 cycle peak, matching the duration of the previous two cycles. That lands just two weeks shy of the first cycle when measured from the Halving Cycles Theory bottom in December 2010.

Crypto trader Jelle pointed out an 87% probability of another rate cut at Wednesday's FOMC meeting. Here's the kicker: the last two rate cuts sparked sharp Bitcoin selloffs. He's watching closely to see whether this time the pattern finally breaks, or if crypto traders are in for another rough ride.