Bitcoin Whipsaws as Crypto Liquidations Near $1 Billion
60-second summary
Bitcoin whipsaws as crypto liquidations near $1 billion, triggered by hot inflation data that revives Fed rate‑hike bets; leveraged long positions unwind, wiping out almost $1 billion across futures and perpetual contracts. The sharp sell‑off pressures Bitcoin’s price lower, signaling heightened volatility and prompting risk‑averse traders to reduce exposure in the broader crypto market.
Hot inflation data revived Fed rate-hike bets, and leveraged bulls paid the bill as nearly $1 billion in crypto positions were liquidated.