Crypto Liquidations Near $1 Billion as Bitcoin Whipsaws on Hot CPI, PPI
- —24-hour liquidations totaled $948.22 million, with $858.96 million (90.6%) in longs
- —Ethereum led with $282.03 million liquidated, followed by Bitcoin at just over $200 million
- —Largest single order: a $12.03 million BTC long on Binance force-closed at $80,208.96
- —Bitcoin trades roughly 2% below the average cost of U.S. spot ETF holders near $82,300
Why it matters: Bitcoin has slipped back below ETF buyers' average cost basis, and with markets pricing another Fed hike on October 28, the risk of further liquidations remains elevated.
Source: Decrypt