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Bitcoin Briefly Reaches $85,600 as $55 Million in Shorts Liquidate
Bitcoin later fell to $84,350 after the move. Derivatives markets also liquidated $27 million in long positions over the same four-hour period.
Mentioned assets
Bitcoin (BTC) briefly rose to $85,600 Wednesday after the release of U.S. August personal consumption expenditures (PCE) inflation data before falling to $84,350.
The move followed the release of the PCE data.
Over the four hours after the release, derivatives markets liquidated $55 million in short positions, which are bets that an asset will decline. Long positions worth $27 million were also liquidated during the period.
