After the June CPI data was published…More than $200 million of Bitcoin liquidated
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Answer After the June CPI data was published…More than $200 million of Bitcoin liquidated
The number of traders liquidated and the value of liquidation soared to over $200 million on a daily scale for bitcoin positions, and the entire crypto market saw increased volatility after record-breaking US inflation data.
The past several days have not gone well for the primary cryptocurrency, which lost the $20,000 level yesterday and slid to a 9-day low of $19,200 earlier today.
Bitcoin is trying to stay above the 19,000 level despite heavy selling pressure after the data was published as the US reported the highest inflation data in more than 40 years at 9.1% (for June).
As on previous occasions, significant volatility in the cryptocurrency markets sent Bitcoin soaring to just over $20,000 before dropping to a new 10-day low of just under $19,000.
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At the moment Bitcoin is trying to stabilize and stay above the $19,000 level.
Altcoins have seen similar moves to Bitcoin, mostly in the red now.
Ethereum is close to breaking the $1,000 level.
Traders with excessive leverage suffer as transcend The number of liquidations on the daily scale is 70000.
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The total value of liquidations exceeded $200 million in the same time frame, and reached $80 million in the past hours.
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