Bitcoin Falls Below $78,000 as $264 Million in Crypto Liquidations Recorded

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Bitcoin dropped below $78,000 on Tuesday, falling to $77,603 before rebounding to $78,600. The price movement triggered $79 million in Bitcoin liquidations, 90% of which were from long positions. Total crypto liquidations reached $264 million, comprising $187 million in longs and $77 million in shorts. Traders are monitoring the upcoming PPI and CPI reports for insights into crypto value investing. The U.S. Bureau of Labor Statistics will release the August data on Thursday and Friday.

Odaily Planet Daily report: On Tuesday, Bitcoin briefly fell below $78,000, touching a low of $77,603, before recovering to around $78,600; as of 11:20 AM Eastern Time on Tuesday, its market capitalization was approximately $1.58 trillion.

A previous price swing triggered $79 million in Bitcoin position liquidations, with long positions accounting for approximately 90%. Total crypto liquidations across the network reached $264 million, including $187 million in longs and $77 million in shorts.

The U.S. Bureau of Labor Statistics will release the August Producer Price Index (PPI) on Thursday and the Consumer Price Index (CPI) on Friday. (Bitcoin.com News)

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