TREE NEWS reports: Bitcoin fell as low as $72,787 intraday after US October CPI came in at 0.4% month-on-month, above expectations. Coinglass data showed more than $632 million in crypto liquidations over the past 24 hours, with long positions accounting for over $511 million. The implied probability of a 25-basis-point Fed rate hike in December rose to 85% from 77% before the CPI release.
Bitcoin Falls to $72,787 After US October CPI; $632M Crypto Liquidations in 24 Hours
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AI take
The scale of long liquidations relative to total wipeouts shows this was a positioning flush rather than a broad de-risking, with leveraged bulls absorbing the CPI surprise. The more telling signal is the repricing of December Fed odds, which ties crypto's near-term direction to macro data rather than sector-specific flows. Whether the liquidation cascade has fully run its course, and whether rate expectations keep hardening, are the open questions worth tracking.
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