News
Hot CPI Sparks Over $720 Million in Crypto Liquidations
October Consumer Price Index data arrived hotter than expected with headline inflation up 0.4% and core inflation rising 0.3% month-over-month. The print increased expectations of a Federal Reserve interest rate hike and triggered roughly $723 million in crypto liquidations, predominantly hitting leveraged long positions. Bitcoin fell toward $72,700 before trading around $73,605, down 1.1%. Meanwhile, total cryptocurrency market capitalization decreased 1.4% to approximately $2.45 trillion, with Bitcoin dominance standing at 60.8%. Monero rose 3.8% to $572.50, while Zcash dropped 14.2% to $978.