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Home/News/Bitcoin drops to $58K as US PCE inflation hits 3-year high, triggering $600M in liquidations
Cointelegraph·6h ago·negative

Bitcoin drops to $58K as US PCE inflation hits 3-year high, triggering $600M in liquidations

Bitcoin hit 21-month lows at $58K after US PCE inflation hit 4.1%, sparking $600M in hourly crypto liquidations and stock market volatility.

  • BTC dropped to $58,035 on Bitstamp, its lowest since September 2024
  • US PCE inflation hit 4.1%, a three-year record, rattling equities and crypto
  • Over $600M in crypto long positions were liquidated within a single hour
  • The Nasdaq 100 shed 2% in 30 minutes at the Wall Street open
  • Analysts see $55K as a potential next target, with $65K becoming new resistance
marketmacroImpact 8/10
Why our editor rated this negative

Bitcoin at 21-month lows with massive liquidations and macro headwinds from rising inflation is clearly negative for the industry.

Read the full story at Cointelegraph

Coinporta summarises news for fast scanning. Full reporting belongs to the source.

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