Massive Market Liquidations
Crypto markets faced a bloodbath as over $860 million in bullish bets were wiped out in just 24 hours. A hotter-than-expected U.S. inflation report fueled fears of delayed Fed rate cuts, sparking a wave of panic selling across major tokens. ๐ $BTC
Ethereum Leads the Losses
The liquidation storm hit Ethereum traders the hardest, with hundreds of millions lost as leveraged positions collapsed. This sudden correction came right after the tokenโs strong rally earlier in the week, leaving bulls stunned. โก $ETH
Altcoins Also Under Pressure
The pain wasnโt limited to majors โ several altcoins saw sharp declines as liquidation data showed long positions being flushed out at record pace. Among them, XRP faced heavy selling, highlighting the fragility of over-leveraged markets. ๐ฅ $XRP
Uncertainty Ahead
Analysts warn that markets may remain shaky until the Federal Reserve provides clearer guidance in September. With inflation fears back in focus, traders are preparing for more volatility before any sign of stability returns. ๐
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