Bitcoin fell below $73,000 before recovering to around $73,600, while Ethereum dropped below $2,100 and XRP approached $1.05. More than $723 million in crypto positions were liquidated within 24 hours, with nearly 79% coming from long bets. U.S. inflation coming in above expectations reduced the probability of a Federal Reserve rate freeze and strengthened expectations of rate hikes, weighing on risk assets. U.S. spot Bitcoin ETFs also recorded approximately $1.28 billion in net outflows as the midterm elections revived regulatory uncertainty. Separately, Old Glory Bank accused the Federal Reserve of blocking its crypto-integrated banking launch at the last minute.
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