In brief
- Crypto liquidations reached $948.22 million in 24 hours across 177,440 traders, with long positions accounting for 90.6%, per CoinGlass.
- Bitcoin fell 2.6% and broke support after hotter-than-expected CPI and PPI data revived bets on another Fed rate hike.
- Bitcoin now trades roughly 2% below the average cost of U.S. spot ETF holders near $82,300, putting those buyers back underwater.
Bitcoin fell below $80,000 on Thursday for the first time in over a month, extending Wednesday’s inflation-driven slide and wiping out nearly $1 billion in leveraged crypto bets. It’s currently trading just about $82,000 after several hours of increased volatility.
Ethereum and XRP dropped close to 5%, Zcash sank almost 10%, and only five coins in…
