Bitcoin slips below $80,000 as 6.3% PPI triggers $939 million liquidation wave
- —US September PPI rose 1.3% month-over-month and 6.3% year-over-year, the highest in nearly four years
- —$939.24 million liquidated across 176,506 traders; largest single position was $12 million on Binance
- —Odds of Bitcoin reaching $100,000 by Christmas fell to 9.7% from 12.5%
- —About 140,000 BTC in options worth nearly $12 billion expire Oct. 30, with max pain near $78,000
Why it matters: Options positioning has shifted the market's focus to $78,000, and the Oct. 30 expiry could amplify Bitcoin's next major move.
Source: CryptoSlate