Markets got wrecked after PPI numbers came in at a 4-year high. $BTC fell under $80k, $ETH dropped below $2,350.
Close to $1 billion in liquidations across the board in 24 hours. When macro data surprises to the upside on inflation, risk assets take the hit first — and leveraged positions get crushed fastest.
This is textbook deleveraging. High PPI = stickier inflation = Fed stays restrictive longer = liquidity tightens = crypto sells off hard. The correlation between liquidity conditions and crypto price action remains extremely strong.
Watch how quickly sentiment can flip when macro reminds everyone that we're not in a free money environment anymore.
Close to $1 billion in liquidations across the board in 24 hours. When macro data surprises to the upside on inflation, risk assets take the hit first — and leveraged positions get crushed fastest.
This is textbook deleveraging. High PPI = stickier inflation = Fed stays restrictive longer = liquidity tightens = crypto sells off hard. The correlation between liquidity conditions and crypto price action remains extremely strong.
Watch how quickly sentiment can flip when macro reminds everyone that we're not in a free money environment anymore.