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Bitcoin drops below $74,000 to 11-week low after hot U.S. inflation data

Bitcoin tumbled to an 11-week low of $73,588 following a hotter-than-expected U.S. CPI report, triggering 200 million dollars in crypto long liquidations within an hour.

A Polymarket trading chart showing Bitcoin's price dropping sharply from around $74,300 to $73,672 between 8:00 AM and 8:30 AM.
Image: @PolymarketMoney

Bitcoin dropped to an 11-week low of $73,588 following the release of fresh U.S. inflation data, according to LSEG figures reported by Walter Bloomberg. The slump pushed the leading cryptocurrency back beneath the $74,000 threshold after U.S. Consumer Price Index inflation rose 0.4% month over month, coming in hotter than expectations, Bitcoin Magazine reported.[1][2]

The price drop sparked a swift wave of liquidations across digital asset markets. According to SolanaFloor, roughly $200 million in crypto long positions were wiped out in a single hour following the CPI release. The sell-off also spread across major altcoins, with Solana sliding into the mid-$84 range and tapping a low of $82.61.[5]

Trading dashboards illustrated the speed of the decline across multiple platforms. A chart posted by Bitcoin.com News captured the descent from a prior high of $75,460, while Polymarket perpetual contracts showed Bitcoin dropping $1,023.10, or 1.37%, down to $73,672 in a sharp move between 8:00 a.m. and 8:30 a.m.[3][4]

Key facts

  • Bitcoin fell to an 11-week low of $73,588 following U.S. inflation data, according to LSEG figures cited by Walter Bloomberg.
  • U.S. CPI inflation rose 0.4% month over month, higher than market expectations, Bitcoin Magazine reported.
  • SolanaFloor reported that $200 million in crypto long positions were liquidated within one hour of the inflation release.
  • Solana dropped to $84, reaching a low of $82.61 during the market slide.
  • Polymarket perpetual contract data showed Bitcoin falling $1,023.10, or 1.37%, to $73,672 between 8:00 a.m. and 8:30 a.m.
  • A chart published by Bitcoin.com News showed Bitcoin declining from a peak of $75,460.

Sources 路 5 sources

  1. *B

    *Walter Bloomberg@DeItaonePost on X 路

    BITCOIN FALLS TO 11-WEEK LOW OF $73,588 AFTER U.S. INFLATION DATA - LSEG

    Open source
  2. BM

    Bitcoin Magazine@BitcoinMagazinePost on X 路

    JUST IN: U.S. CPI inflation comes in at 0.4% MoM, higher than expectations 馃憖 Bitcoin falls below $74,000 on the news. https://t.co/Zxq3LtVwAd

    Open source
  3. BC

    Bitcoin.com News@BitcoinNewsPost on X 路

    JUST IN: 馃煚馃敾 #Bitcoin slips back under $74,000 https://t.co/3qW8pu380h

    Open source
  4. PM

    Polymarket Money@PolymarketMoneyPost on X 路

    BREAKING: Bitcoin plunges below $74,000. https://t.co/OMP8zyCwvG

    Open source
  5. SO

    SolanaFloor@SolanaFloorPost on X 路

    馃毃JUST IN: Bitcoin falls below $74,000 and $SOL drops to $84 as $200M in crypto longs are liquidated in one hour following hotter than expected US CPI data. https://t.co/BW4bJB6qD7

    Open source