Crypto
Bitcoin Falls 2.5% Amid $386M Liquidation Wave
On September 9th, Bitcoin rallied to $79,760 but just 14 hours later, it had shed 2.49% in value to fall to $77,770.
The price correction saw $269.96 million in longs and $116.62 million in short positions forcefully closed, resulting in the highest 1-day liquidation numbers in nearly a week.
The spot Bitcoin ETF flows indicated a slowdown in demand, with a combined outflow of $166.8 million over the previous two trading days.
The price correction was part of a broader market retreat, spurred by higher oil prices and fears of inflation acceleration, as well as the U.S. Federal Reserve rate hike probability reaching 60.2%.