Add as a preferred source on GoogleBitcoin Drops Below $82,000 as Crypto Liquidations Near $800 Million
More than $686 million in long positions were liquidated over 24 hours as traders awaited U.S. inflation data and markets faced broader risk-off pressure.
Bitcoin (BTC) fell below $82,000 Tuesday as leveraged crypto positions were liquidated and traders waited for new U.S. inflation data that could influence broader risk sentiment.
Total crypto liquidations reached about $771 million over the past 24 hours, with long positions accounting for nearly $700 million. The selling pushed major cryptocurrencies lower alongside Bitcoin.
U.S. spot Bitcoin exchange-traded funds recorded $681.1 million in net outflows last week, their weakest weekly result since late June. Spot Ether ETF outflows reached $542 million over the same period, signaling weaker recent demand for crypto investment products.
Higher U.S. Treasury yields and a stronger dollar added pressure to risk assets ahead of the inflation release. Asian markets also weakened, with South Korea’s KOSPI falling 6.1% during Tuesday morning trading and triggering a program-trading halt.
The market is now focused on the upcoming U.S. inflation data for fresh signals on the direction of interest rates and risk appetite.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.