#ETHOn-ChainActivityRises

Bitcoin's mood on Tuesday was far from golden. After comfortably staying around $115,500, the orange coin slipped on a banana peel, falling to an intraday low of $112,349. This drop of 1.8% against the US dollar came as traders prepared for the expected rate cut from the Federal Reserve.
Meanwhile, sentiment on Wall Street improved - Nasdaq, Dow, and S&P 500 all showed gains ahead of the Federal Open Market Committee meeting (FOMC). But as soon as the final bell rang, cryptocurrencies decided to close the day. The total digital asset market now stands at $3.78 trillion, down 2.23% over the past 24 hours.
Earlier in the day, Bitcoin even flirted with the $116,077 mark until gravity took over around 16:30. The volume rose to $62.67 billion, but mainly it was sell orders. This wave of red ink caused chaos in the derivatives market, where $552.27 million in positions were liquidated among 150,568 traders.
Ethereum (ETH) and Bitcoin took the main hit — long positions in ETH evaporated by $$122 million, while long positions in BTC lost $88.82 million, according to Coinglass data. SOL, TRUMP, ZEC, LTC, ENA, and some others joined the liquidation graveyard. By the end of the day, BTC fell by 1.8%, ETH by 3.9%, and XRP by 1.3%.
In the precious metals department, gold fell by 0.69% to $3,955 per ounce, while silver shone slightly, rising by 0.38% to $47.12. Not quite a rally, but hey — someone is still shining. In short, Tuesday was one of those days when Bitcoin reminded everyone that it still knows how to throw a tantrum. By 5 PM on October 28, BTC was trading at $112,851 per unit.