Crypto Liquidations Near $1 Billion as Bitcoin Swings
Edited by Steinar Vigdel Kolnes, Editor, Oslo
Bitcoin saw sharp price swings as strong inflation data renewed expectations of a Fed rate hike and crypto liquidations approached $1 billion.
Bitcoin traded sharply in both directions as hotter inflation figures prompted renewed bets that the Federal Reserve could raise interest rates, Decrypt reported.
Liquidations across crypto markets approached $1 billion during the volatility, with leveraged traders betting on higher prices taking losses.
The moves highlighted the pressure on bullish positions as traders reassessed the outlook for U.S. monetary policy following the inflation release.
Source: Decrypt
