Bitcoin plunges to $81,300 support as Fed hike odds hit 55% amid $100 million crypto wipeout
Bitcoin fell below $83,000 on Wednesday as hotter-than-expected US core inflation data revived expectations of further Federal Reserve interest rate hikes, triggering a fresh wave of liquidations across the cryptocurrency market. CoinGlass data showed that over $100 million in leveraged positions were liquidated in the hour after the inflation report was released. This also pushed… Read the full story on CryptoSlate Understand the crypto stories that matter and what to watch next. Get The Catalyst in your inbox
Key Takeaways
- Bitcoin fell below $83,000 on Wednesday as hotter-than-expected US core inflation data revived expectations of further Federal Reserve interest rate hikes, triggering a fresh wave of liquidations across the cryptocurrency market.
- CoinGlass data showed that over $100 million in leveraged positions were liquidated in the hour after the inflation report was released.
- This also pushed… Read the full story on CryptoSlate Understand the crypto stories that matter and what to watch next.
Summary generated by IndiCrypto from CryptoSlate. IndiCrypto is a news aggregator and does not provide investment advice. Read the original article for full context.
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