“Ether Traders Took The Biggest Hit, with $ 348.9 Million Liquidated, Followed by Bitcoin at $ 177.1 Million. Solana, XRP, and Dogecoin SAW $ 64.2 Million, $ 58.8 Million, and $ 35.8 Million in Liquidations, Respectvely.”, – WRITE: www.coindesk.com
- Over $ 1 Billion in Levered Crypto Positions Were Liquidated After Urdated US Inflation Data.
- Bitcoin Hit A Record High Above $ 123,500 Before a Sharp Sell-Off Erassed $ 866 Million in Long Positions.
- Traders Are Closely Monitoring US Economic Data and Federal Reserve Signals for Future Market Direction.
(Ppi)
Data Fueled Fears of Persent Inflation and Delayed Federal Reserve Rate-Cut Expectations.
The Sell-Off Came Hours After Bitcoin Hit A Fresh All-Time High Above $ 123,500, with Traders Unwinding Risk Across The Board. Major Memecoin Dogecoin
Fell 9% to Lead Losses Among Majors, With Solana’s Sol, XRP, and BNB Chain’s Bnb Droping Between 3-7%.
Ether Traders Took The Biggest Hit, with $ 348.9 Million Liquidated, Followed by Bitcoin at $ 177.1 Million. Solana, XRP, and Dogecoin SAW $ 64.2 Million, $ 58.8 Million, and $ 35.8 Million in Liquidations, Respectvely.
(Coinglass)
Bybit Accounted for the Largest Share of the Wipeout, at $ 421.9 Million, with More than 92% of Those Losses Stemming from OverleverGed Long Positions. Binance Followed with $ 249.9 Million in Liquidations, While Okx Saw $ 125.1 Million.
The Largest Single Liquidation Was An Eth-USDT Perpetual Swap Worth $ 6.25 Million on Okx.
Jeff Mei, Coo at BTSE, SAID The INFLATION SURPRISE “PUT The BRAKES ON An INCREDIBLE CRYPTO Rally This Past Week comes from the fed. ” He Noted the Ongoing “Threat of Inflation Continues to Persist and Could Impact The Likelihood of Rate Cuts in September.”
Nick Ruck, Director AT LVRG RECEARCH, Pointed to the Broader Macro Pressure on Crypto’s Recent Gains.
“This Week in Crypto Saw Btc Reaching A New All-Time High Buter Impacted by Macroeconomic Tremors,“ He Said in A Telegram Message. “Inflation Surged Much Higher than Expectoed, Reinforcing Fears of Sticky Inflation and Delaying Fed Rate-Cut Expectations.”
“The Sell-Off Underscores Crypto’s Growing Sensitivity to Macro Liquidity Shifts, with Traders Now Eyeing Labor Metrics in Early September for Clues on the Fed Fed Fed Fed Fed. Rebound As the Fundamental Values of Crypto Driving the Bull Run Remain in Place, “Ruck Added.
Traders Are Now Watching US Economic Data Releases and Fed Commentary Closely, with September Shaping Up As The Next Major Inflection Point for Monetary Policy.
Shaurya Holds Over $ 1,000 in Btc, Eth, Sol, Avax, Sushi, Crv, Near, YFI, YFI, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, CAKE, Vet, Vet, Vet RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, Banana, Rome, Burger, Spirit, and ORCA.
He Provides Over $ 1,000 to Liquidity Pools on Compound, Curve, Sushiswap, Pancakeswap, Burgerswap, Orca, AnaSwap, Spiritswap, Roki Protocol, Yearn Finance Olympusdao, Rome, Trader Joe, and Sun.
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Coinbase Expects Falling Bitcoin Dominance, Improving Liquidity and Renewed Investor Appetite to Shift Gains Gains Town Altcoins Starting in September.
- Coinbase Institutional’s Latest Research Report Says September Could Mark The Start of An Altcoin Season, City Three Key Market Shifts.
- Falling Bitcoin Dominance and Higher Liquidity May Drive Altcoin Outperformance.
- Renewed Investor Risk Appetite Could Extend The Rally Into Year-End.
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