$562M Crypto Liquidation Spike Hits Market After Inflation Data

The cryptocurrency market experienced a significant liquidation surge on April 12th after the release of the US inflation data, which showed a jump in Personal Consumption Expenditures (PCE) price index. The sudden increase in inflation led to a rapid rise in bond yields and a subsequent sell-off in cryptocurrencies.

According to various sources, including CoinMarketCap, the total liquidation value surpassed $562 million within a short period of time. This represents a significant hit to the crypto market, which has been struggling with volatility in recent weeks.

The rise in inflation and bond yields can be attributed to the increasing demand for safe-haven assets, such as US Treasury bonds. As investors seek refuge from the uncertainty surrounding the economy, they are selling off riskier assets like cryptocurrencies.