#Liquidations

💥 Crypto market sees over $1 billion liquidation after PPI inflation shock

On August 14, the US released data on the Producer Price Index (PPI), which rose by 0.9% m/m and 3.3% y/y — well above the forecast of 2.5%. This is the largest annual increase since February, raising concerns about inflationary pressures and the impact on Fed policy.

📉 $BTC fell by more than 2%, $ETH — slightly.

💣 According to CoinGlass, over 24 years. more than $1 billion in positions have been liquidated, of which $782 million are longs. The largest order is $6.25 million in the ETH/USDT pair on Bybit.

📊 Despite the data, markets still estimate the probability of a September Fed rate cut at 92% (versus 94% at the beginning of the week).

⚠️ Open interest in altcoins is already at a record $47 billion, which carries the risk of sharp movements in either direction.

Ahead is the labor report and minutes of the latest Fed meeting. Volatility promises to be high.