Crypto
Bitcoin Surges to $85,600 Amid Inflation Data Release
On Wednesday, Bitcoin (BTC) briefly spiked to $85,600 after the release of U.S. August personal consumption expenditures (PCE) inflation data.
The subsequent liquidation of short positions in derivatives markets reached $55 million over a four-hour period.
This move was accompanied by the liquidation of $27 million in long positions during the same time frame.
The price of Bitcoin later fell to $84,350, indicating a correction following the initial surge.