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2h ago

Bitcoin Slides to Early-July Lows as $500 Million in Crypto Liquidations Hit

Hotter PCE inflation stoked volatility, with traders citing large-holder moves.

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Altcoins tumble, bitcoin tests $109k as crypto markets deal with us core inflation data
Bitcoin nosedives to $108k as $110m in longs vanish in 24 hours

Overview

  • Bitcoin touched about $108,617 Friday, roughly 12% below its mid-August record near $124,000, according to CoinGecko.
  • Derivatives markets saw about $446 million in long liquidations and $535 million across all positions over 24 hours, CoinGlass reported.
  • Ethereum fell roughly 6% to near $4,295 as XRP slipped to about $2.84 and Solana eased to $209.
  • The pullback followed a core PCE inflation reading of 2.9% for July, while the S&P 500 fell 0.6% and the Nasdaq lost 0.9%.
  • Traders pointed to large-holder activity, including a reported 24,000 BTC sale and rotation into Ethereum, as analysts flagged September’s weak seasonality and noted Powell’s recent hint at possible rate cuts.