Update
Bitcoin Plunges Below $83,000 Amid Inflation Data
Bitcoin fell below $83,000 on Wednesday as hotter-than-expected US core inflation data increased expectations of further Federal Reserve interest rate hikes. Over $100 million in leveraged positions were liquidated in the hour after the inflation report was released, pushing total liquidations above $220 million over 24 hours. The sharp increase in forced selling highlighted traders' reaction to renewed inflation pressures and the prospect of tighter US monetary policy.