Bitcoin’s $100,000 dream slips away as $939 million crypto wipeout pushes traders toward $78,000
BTC when published $82,023Now $80,577 ▼ −1.76% since it was published
Bitcoin registered an intraday low of $79,730 before recovering to around $82,000 as surging US wholesale inflation intensified a cryptocurrency selloff that triggered nearly $940 million in liquidations. This price action extended losses as stronger-than-expected inflation data raised concerns about another interest rate hike by the Federal Reserve. According to CoinGlass, 176,506 traders were liquidated during the period, totaling $939.24 million. The largest single liquidation occurred on Binance, where traders closed a BTC-USDT position worth $12 million. The selling followed a Labor Department report showing US producer prices jumped 1.3% in September, the biggest monthly increase since March 2022. Annual wholesale inflation accelerated to 6.3%, its highest level in nearly four years.
First reported by CryptoSlate. This page is a short excerpt; the full text is theirs.
