$1B Wiped Out from Crypto Market as Inflation Fears Return
Reading Time: < 1 minute
Crypto markets were rocked by over $1 billion in liquidations after a hotter-than-expected PPI report reignited fears of prolonged inflation, sending Bitcoin tumbling 2%+ and pressuring altcoins.
The latest data showed US producer prices jumping 0.9% MoM and 3.3% YoY—far above the 2.5% YoY consensus—marking the sharpest annual rise since February. The shockwave forced a brutal $782M long squeeze, including a single $6.25M ETH position obliterated on Bybit.
While rate-cut odds remain high (92%) for September, traders are now questioning whether the Fed can afford to ease policy if inflation proves stickier than anticipated. Another hot CPI print could spell more pain for crypto.
Follow and like us on
