Binance ETH Long Liquidations Top $106M in One Hour After Hot U.S. Inflation
Photo: TokenPost
More than $106 million in Binance Ether (ETH) long positions were liquidated in one hour after hotter-than-expected U.S. inflation, the largest such hourly wipeout in six months. Crypto futures trading volume was about nine times spot volume. That ratio underscores derivatives’ central place in the market. High leverage leaves crypto more sensitive to macroeconomic changes. Expectations for another Federal Reserve rate increase rose during the week, with the probability moving from 17% to nearly 30%. Investors' concerns about the macroeconomic backdrop were also being expressed through derivatives trading. The six-month comparison applies to Binance’s one-hour ETH long-liquidation total.
Source: TokenPost
