Crypto Long Liquidations Hit $178 Million Within an Hour of October CPI

Exchanges closed about $178 million in leveraged crypto long positions within an hour of Tuesday’s October inflation release, as Bitcoin (BTC) fell below $74,000. The U.S. Consumer Price Index rose 0.4% in October from September, exceeding the 0.3% forecast. Core prices, which exclude food and energy, climbed 0.3% against a 0.2% estimate. Both monthly readings came in higher than expected. The liquidation tally covers long positions across crypto, not just Bitcoin. A long trade is a bet on higher prices. When a leveraged trade loses too much value, an exchange can close it because the trader’s collateral no longer covers the position. A wave of forced closures can add pressure during a sudden decline.

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