Bitcoin
Crypto Liquidations Hit $758M as Bitcoin and Ether Rebound Post-CPI
Major digital assets gained ground after US inflation numbers were released, triggering substantial short liquidations across crypto markets.
Digital asset markets saw volatile trading around the release of August US consumer price data, as initial declines in alternative tokens gave way to a sharp recovery in the largest cryptocurrencies. Bitcoin rose by nearly 4% before settling around $77,600, while Ethereum gained as much as 8.3% to trade near $2,568.
CoinGlass data shows $758 million in positions were liquidated over a 24-hour window, comprising $412 million in short bets and $346 million in longs. Ethereum experienced the highest volume of liquidations at $307 million, compared with $212 million for Bitcoin, with the single largest liquidation being a $20.3 million ETH-USD position on Hyperliquid.
The market dynamic shifted rapidly following the data release, with more than $250 million in short positions closed out in a single hour and approximately 100,000 accounts affected across the day. LO:TECH research lead Adam McCarthy noted that traders paid funding fees to maintain short exposures during an 8% rally, which accelerated price gains as positions were forced to unwind.
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