In the past 24 hours, over 500 million USD has been liquidated.

The long positions liquidated this time only accounted for about 70% of the total trading volume, while in previous liquidations, this ratio reached 90%.

Main reasons:

🖤 The sell-off effect triggered by the release of CPI data.

🖤 The time for the Bank of Japan to decide on interest rates is approaching.

🖤 Wintermute sold more than 500 million USD worth of Bitcoin (approximately 50,000 USD) on the exchange, and has currently given back about 30%.

Bitcoin plummeted to 85,000 USD this morning, and Ethereum dropped to 2,800 USD at one point.

The Bank of Japan has not yet announced its interest rate decision, and it is already like this. The situation will likely worsen when they officially announce the interest rates.