Bitcoin Falls to $72,787 After CPI as Crypto Liquidations Top $632M

Bitcoin (BTC) fell to an intraday low of $72,787 after the U.S. October inflation report, while crypto liquidations topped $632 million over the prior 24-hour period. At 11:35 a.m. ET (16:35 UTC) Tuesday, the reported liquidation total for the prior 24 hours exceeded $632 million. More than $511 million involved long positions, trades that profit when prices rise. The liquidation tally covered the broader crypto market, while Bitcoin's stated price marked a separate intraday low. U.S. October CPI increased 0.4% month over month, exceeding market expectations. After the release, the implied probability of a 25-basis-point Federal Reserve rate increase in December climbed to 85%, up from 77% beforehand. The probability therefore rose eight percentage points between the pre-release and post-release readings.

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