Crypto Liquidations Reach $948.22 Million as Bitcoin Falls Below $80,000

Across 177,440 traders in 24 hours, crypto liquidations totaled $948.22 million, with long positions accounting for 90.6%, according to CoinGlass. Bitcoin fell 2.6% to below $80,000 for the first time in over a month, trading near $82,000, which is roughly 2% below the average cost of U.S. spot ETF holders. This drop followed hotter-than-expected CPI and PPI data, reviving bets on another Fed rate hike. Ethereum and XRP dropped close to 5%, while Zcash sank almost 10%.