Bitcoin fell to an intraday low of $79,730 before recovering to around $82,000 after stronger-than-expected US wholesale inflation data intensified a cryptocurrency selloff, triggering nearly $940 million in liquidations.
The price decline accelerated as the inflation reading raised concerns about another interest rate hike by the Federal Reserve. According to CoinGlass data, 176,506 traders were liquidated during the selloff.
The move pushed Bitcoin further away from the $100,000 level, with traders now watching the $78,000 mark amid the volatility triggered by the inflation report.
For more details, read the full story on CryptoSlate.
