Ether Falls 6.2% as $265.67 Million in Long Bets Are Liquidated

Ether (ETH) fell 6.2% to $2,351.63 by 1:50 a.m. ET (05:50 UTC) Oct. 15, while $265.67 million in ETH long positions were liquidated over the previous 24 hours.

A liquidation snapshot taken at 1:31 a.m. ET (05:31 UTC) put total ETH liquidations at $288.60 million. Short positions accounted for $22.93 million, while long bets made up 92.1% of the total.

The readings came after Wednesday’s September consumer price index (CPI) release showed annual inflation rising to 3.7% from 3.4% in August. Economists had expected a 3.6% annual rate. Seasonally adjusted monthly CPI rose 0.6%, compared with 0.4% in August, while core inflation, which excludes food and energy, rose 2.6% over 12 months.

Gasoline prices climbed 9.1% in September, accounting for more than half of the monthly increase in overall CPI. The Federal Reserve raised its benchmark rate by a quarter point on Sept. 16, setting a target range of 3.75% to 4%. Its next policy meeting is scheduled for Oct. 27-28.