Bitcoin’s $100,000 dream slips away as $939 million crypto wipeout pushes traders toward $78,000

Bitcoin registered an intraday low of $79,730 before recovering to around $82,000 as surging US wholesale inflation intensified a cryptocurrency selloff that triggered nearly $940 million in liquidations. This price action extended losses as stronger-than-expected inflation data raised concerns about another interest rate hike by the Federal Reserve. According to CoinGlass , 176,506 traders were liquidated during the period, totaling $939.24 million. The largest single liquidation occurred on Binance , where traders closed a BTC-USDT position worth $12 million. The selling followed a Labor Department report showing US producer prices jumped 1.3% in September, the biggest monthly increase since March 2022. Annual wholesale inflation accelerated to 6.3%, its highest level in nearly four years.

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