Bitcoin Whipsaws as Crypto Liquidations Near $1 Billion
Summary
Hot inflation reports triggered renewed expectations of interest rate hikes by the Federal Reserve, causing significant turbulence across digital asset markets. As a result, leveraged bullish positions suffered massive closures, with total liquidations approaching one billion dollars.
Hot inflation data revived Fed rate-hike bets, and leveraged bulls paid the bill as nearly $1 billion in crypto positions were liquidated.
Source: Read the full story at Decrypt
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