Bitcoin has dropped over 2%, falling below $115,000, and altcoins like Ethereum and XRP have also experienced losses. The downturn is fueled by worries of rising U.S. inflation, leading to a correction in the crypto market. Over $1.7 billion in long positions have been liquidated since last Thursday, indicating weakened bullish momentum. The recent decline was triggered by an unexpected rise in the U.S. Producer Price Index, highlighting concerns over upcoming price increases due to tariffs. Corporations hoarding Bitcoin, primarily led by figures like Michael Saylor, is creating fears of a market bubble.
The sharp decline in the crypto market follows concerns over accelerating U.S. inflation, leading to a violent correction and over $1.7 billion in liquidations.
More than $1.7 billion in long crypto future positions have been liquidated, pointing to a significant shift in market sentiment and reduced bullish momentum.
A build-up of leveraged positions made the market particularly vulnerable to profit-taking actions when the Producer Price Index report came out on Thursday.
The trend of corporations hoarding Bitcoin for structural business models raises concerns about potential market bubbles, driven notably by strategies from figures like Michael Saylor.
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