Bitcoin Price Slips as Saylor’s Bull Market Call Meets Reality

Bitcoin’s price tapped an intraday low of $81,500 per coin on Wednesday, Oct. 14, as hotter-than-expected U.S. inflation data rattled financial markets and triggered a wave of leveraged liquidations. Roughly $331 million in cryptocurrency positions vanished over 24 hours, with bullish traders absorbing most of the damage. The sell-off offered an awkward counterpoint to Strategy Chairman Michael Saylor, who had declared the cryptocurrency’s bear market finished just a day earlier. Bitcoin bulls got a rude awakening on Wednesday when September’s hotter-than-expected inflation report sent the cryptocurrency tumbling toward $81,500, dragging leveraged traders into a $331 million liquidation reckoning.

Source: Bitcoin.com News