Current outcome
Bitcoin slid below $80,000 after hotter-than-expected CPI and PPI data, driving nearly $948 million in crypto liquidations over 24 hours and leaving U.S. spot ETF holders underwater near their ~$82,300 average cost basis.
Progress timeline
3 material updates- #01
Liquidations jump to $547 million as oil rally hits crypto market
Bitcoin fell below $84,000 and total liquidations jumped 235% to $547 million as an Iranian escalation in the Strait of Hormuz pushed Brent crude above $101, with smaller tokens and DeFi/meme indices falling hardest and Optimism dropping 10% after Abstract became the second Ethereum L2 to shut down within a week.
Source evidence: CoinDesk
- #02
Bitcoin slides below $82,000 as crypto liquidations surge past $770 million
Bitcoin fell below $82,000, triggering roughly $771 million in crypto liquidations over 24 hours, of which $685.6 million were long positions.
Source evidence: The Block
- #03
Bitcoin Whipsaws as Crypto Liquidations Near $1 Billion
Bitcoin slid below $80,000 after hotter-than-expected CPI and PPI data, driving nearly $948 million in crypto liquidations over 24 hours and leaving U.S. spot ETF holders underwater near their ~$82,300 average cost basis.
Source evidence: Decrypt