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Crypto

Bitcoin Price Surges to $80K on CPI Data, Liquidations Reach $732M

Guavy AI Editorial Team
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BTC
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Bitcoin's price surged to nearly $80,000 on Friday after the U.S. Bureau of Labor Statistics released August Consumer Price Index (CPI) data that matched economists' projections.

The CPI report showed a moderate inflation rate, which was expected by many market analysts.

However, the brief spike in Bitcoin's price was short-lived, and the cryptocurrency's value fluctuated throughout the day due to volatile trading.

In total, over $732 million in crypto liquidations occurred, with shorts taking $424 million in losses. This indicates that traders were caught off guard by the sudden increase in Bitcoin's price.

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Disclaimer: Guavy is a data and market intelligence provider, not an investment adviser. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

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