Bitcoin’s $100,000 dream slips away as $939 million crypto wipeout pushes traders toward $78,000
Bitcoin's price dipped to an intraday low of $79,730 following hotter-than-expected US wholesale inflation figures, triggering roughly $940 million in forced liquidations and affecting over 176,000 traders across the cryptocurrency market.
Bitcoin dipped to an intraday low of $79,730 before staging a partial recovery to hover near $82,000. The downward move was fueled by escalating US wholesale inflation figures, which deepened a broader cryptocurrency sell-off and resulted in roughly $940 million in forced liquidations. This latest market drop followed hotter-than-anticipated inflation readings that sparked fears of potential further interest rate increases from the Federal Reserve. Data from CoinGlass indicates that a total of 176,506 traders faced liquidation during the event.
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Frequently Asked Questions
01What caused the recent Bitcoin sell-off?
The cryptocurrency market downturn was driven by surging US wholesale inflation data, which fueled concerns that the Federal Reserve might implement further interest rate hikes.
02How much were total liquidations during the crypto market drop?
The sell-off triggered nearly $940 million in total crypto liquidations across the market.
03How many traders were affected by the liquidations?
According to CoinGlass data, a total of 176,506 traders experienced liquidations during this price movement.
04What was Bitcoin’s lowest price point during the intraday drop?
Bitcoin touched an intraday low of $79,730 before recovering to trade around $82,000.
