Bitcoin traded near the $77,000 mark after retreating from intraday highs near $80,000. Crypto markets experienced significant volatility and leveraged liquidations driven by high US inflation readings and rising bond yields, while Ether posted modest daily and weekly gains.
Bitcoin traded at 77,267 dollars, up 0.1 percent over 24 hours after retreating from 78,000 dollars. Ether gained 2.1 percent to 2,521 dollars, while the global crypto market value rose 0.4 percent to 2.73 trillion dollars. Across the week, Bitcoin was down 2.9 percent and Ether was up 2.8 percent.[1]
The cryptocurrency market swung in both directions as broader macroeconomic factors heavily pressured digital assets. Delta Exchange research analyst Riya Sehgal noted that market volatility closely followed the release of United States inflation data. Furthermore, high inflation readings coupled with rising bond yields acted as significant negative catalysts, forcing Bitcoin into a retreat from earlier highs above the $80,000 mark.[1], [2]
The intense volatility resulted in a massive wave of leveraged position liquidations across the ecosystem, though reported totals differ considerably based on data providers and measurement windows. While some analytical snapshots estimated 24-hour crypto liquidations at approximately 386 million dollars, other market analyses cited roughly 750 million dollars in liquidated positions during the very same period.[1], [2]
