Mmastodon BusinessCrypto first seen 21 h ago, last 14 h ago, peak #2
US inflation data sparks crypto short squeeze, 73,709 traders liquidated
Original: 🚨 El dato de inflación en EE.UU. se leyó como enfriamiento y los cortos saltaron por los aires: 73.709 traders liquidado
US inflation figures read as a sign of economic cooling, triggering a sharp rally in crypto markets. Bitcoin climbed to $83,825, and around 73,709 traders betting against the market were liquidated, with roughly $259 million wiped out in derivatives positions. Traders are now debating whether the move marks a temporary relief bounce or the start of a new upward leg.
Why now: A surprise cooling in US inflation triggered a violent short squeeze in crypto, wiping out tens of thousands of leveraged traders.
Evidence
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