According to Decrypt, nearly $1 billion in crypto positions were liquidated as Bitcoin experienced sharp swings. The movement followed the release of hot inflation data that revived market expectations for Federal Reserve rate hikes. Leveraged bullish positions were among those affected by the liquidations.
The timing of the liquidations coincided with renewed bets that policymakers would increase rates in response to recent economic indicators. Bitcoin’s price showed notable volatility as a result of these developments.
