Bitcoin (BTC) dropped to new 21-month lows at $58,035 following high US Personal Consumption Expenditures (PCE) inflation data, which also unsettled stock markets. The price decline triggered over $600 million in crypto liquidations, with analysts suggesting further downside towards $55,000.
Bitcoin (BTC) dropped to $58,035, its lowest point since September 2024, following a surge in US PCE inflation to 4.1%. The news caused significant volatility in stock markets, with the Nasdaq 100 falling 2% in 30 minutes, and triggered over $600 million in crypto liquidations within an hour.
Bitcoin fell 8% to $65,360, a nine-week low, due to geopolitical tensions. Over $1.58 billion in long positions were liquidated, with BTC accounting for $774 million. Traders are watching the $60,000 support level.
Bitcoin fell below $78,000 on Monday, hitting $77,819 as the crypto market experienced approximately $295 million in liquidations over 24 hours. The decline tested the $77,000-$77,500 support zone while traders await the upcoming FOMC meeting on April 28-29. Analysts suggest the move appears to be a leverage flush rather than a broader risk-off event, though the trigger remains unresolved.
