cryptocurrency The market has fallen significantly in recent hours.
Bitcoin Its price dropped by over 2% in the last hour, falling below $68,000 and is trading at $67,670 at the time of writing.
The rest of the cryptocurrency market also experienced declines, led by BTC.
The reason for the sharp decline is shown to be that the inflation data announced today in the USA came in above expectations. Annual CPI inflation data in the USA, announced about an hour ago, was recorded at 3.5% instead of the expected 3.4%. In addition, monthly inflation data was measured as 0.4% instead of the expected 0.3%.
Ethereum 2.72% in the last hour, solana 3%, dogecoin 3.11%, XRP lost 1.88% in value.
Due to the impact of the declines, there was a liquidation of $70 million in the cryptocurrency market in the last hour. $65 million of the liquidations took place in long positions.
$16 million of the liquidations were recorded in Bitcoin, $12 million in Ethereum, $5 million in Solana, and $2 million in Dogecoin.
*This is not investment advice.
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