Cardano (ADA) extended its decline early Thursday, following a CPI report that showed inflation was above expectations, leading to a broad sell-off in the cryptocurrency market. According to CoinGlass data, Cardano saw a total of $4.27 million in liquidations, with long liquidations reaching $4.20 million and short liquidations only $73,080, resulting in a long-short liquidation imbalance of 5747%. As of press time, ADA was down 1.33% over the past 24 hours to $0.224, having earlier dipped to $0.216 during the session. The broader crypto market also faced significant selling pressure, as Wednesday's inflation data fueled concerns that the Federal Reserve might raise interest rates this month.