The latest U.S. inflation data (August core PCE index) showed that price pressures remain persistent, with more than half of the PCE basket components still rising faster than the target rate. This release triggered a historic short squeeze on cryptocurrency markets: 73,709 traders were liquidated over 24 hours, wiping out $259.12 million in positions. Bitcoin peaked at $83,825.17, with BTC short sellers losing more than $51.69 million. The one-hour imbalance was extreme: $82.61 million in short liquidations versus only $3.09 million in long liquidations, a 2,633% disparity. Ether contributed $16.39 million to total liquidations, while XRP fell into the grip of the short squeeze, trading around $1.4975.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
