About $39.06 million in crypto shorts liquidated within an hour following US PPI release
TechFlow reports that on November 13, according to BeInCrypto, the US October PPI rose 6.5% year-over-year, below the expected 6.6%; it increased 0.3% month-over-month, below the expected 0.4%. Following the data release, Bitcoin rose from around $69,246 to nearly $70,000 within five minutes.CoinGlass data shows that the crypto market experienced approximately $41.14 million in liquidations within an hour, with short positions accounting for about $39.06 million. Citing Hyperbot data, the report stated that a trader opened a 750 BTC short position prior to the data release, with an average entry price of approximately $69,008 and a liquidation price of around $70,986; this position has yet to be liquidated.
TechFlow reports that on November 13, according to BeInCrypto, the US October PPI rose 6.5% year-over-year, below the expected 6.6%; it increased 0.3% month-over-month, below the expected 0.4%. Following the data release, Bitcoin rose from around $69,246 to nearly $70,000 within five minutes.
CoinGlass data shows that the crypto market experienced approximately $41.14 million in liquidations within an hour, with short positions accounting for about $39.06 million. Citing Hyperbot data, the report stated that a trader opened a 750 BTC short position prior to the data release, with an average entry price of approximately $69,008 and a liquidation price of around $70,986; this position has yet to be liquidated.
