Bitcoin Pullback to $66K Triggers $250M in Crypto Liquidations as Traders Brace for 'Wild Wednesday' of FOMC, CPI Report
Summary
Bitcoin and altcoins experienced a significant drop in value, with Bitcoin falling to nearly $66,000 and altcoins like Ethereum, Solana, Dogecoin, Cardano, and Chainlink seeing losses of 6%-9%. This led to over $250 million in liquidations of leveraged derivatives trading positions. The pullback is attributed to investors "de-risking" ahead of the U.S. inflation report and Federal Reserve meeting. Market observers anticipate a volatile session for Bitcoin on Wednesday, with a focus on the FOMC members' interest rate outlook. Despite the sell-off, some analysts see positive signs for a potential quick recovery and suggest it may be a good opportunity to accumulate coins.
