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CryptoQuant Analyst: Unexpected US Inflation Triggers Over $106 Million in Binance ETH Long Liquidations, Highest Single-Hour Total in Nearly Six Months
CryptoQuant analyst Darkfost_Coc stated that higher-than-expected US inflation data led to over $106 million in Ethereum long liquidations on Binance, the world's largest cryptocurrency exchange by trading volume, within one hour. This marks the highest single-hour Ethereum long liquidation amount on the platform in nearly six months. Darkfost noted that cryptocurrency futures trading volume is currently about nine times that of spot trading, making highly leveraged markets more vulnerable to macroeconomic shocks. He added that market expectations for another Federal Reserve rate hike have risen from 17% to nearly 30% within a week, intensifying pressure on the derivatives market.
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