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Massive $217 million crypto liquidation rattles traders ahead of inflation data
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Roughly $217 million in leveraged crypto positions were liquidated, reflecting volatility tied to Fed expectations and pre-CPI uncertainty in global digital markets.
More than $217 million in leveraged positions were wiped out within 24 hours as Bitcoin and Ethereum extended declines amid macro uncertainty. Exchange data from Coinglass showed long-side liquidations concentrated in BTC and ETH futures. Analysts attributed the move to rate-cut speculation, thin liquidity, and automated deleveraging. Despite short-term pain, market participants remain cautiously optimistic, citing robust institutional inflows. Ethereum’s open interest fell 6%, while Bitcoin funding rates turned negative. Traders expect calmer conditions once the Fed and US CPI reports clarify liquidity direction.