Crypto liquidations reached $948.22 million in 24 hours, affecting 177,440 traders with long positions accounting for 90.6% of losses. Bitcoin fell below $80,000 for the first time in over a month after hotter-than-expected U.S. inflation data (CPI at 3.7% versus 3.6% forecast, PPI at 6.3% versus 5.5% forecast), reviving bets on another Federal Reserve rate hike. Ethereum led liquidations with $282.03 million, with Bitcoin just behind at just over $200 million. Bitcoin now trades roughly 2% below the average cost of U.S. spot ETF holders near $82,300, putting those buyers back underwater.
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