The Magazine for Asian Investors
The bitcoin price dropped after the U.S. inflation figures continued to rise. Today (February 11) the price fell by 2.87% and moved at $43,050.11.
Bitcoin’s negative move was again hand in hand with the U.S. stock markets which all together sank yesterday.
- The Dow Jones Industrial Average fell 526.47 points, or 1.47%, to close at 35,241.59.
- The S&P 500 index fell 83.10 points, or 1.81%, to close at 4,504.08.
- The Nasdaq index fell 304.73 points, or 2.10%, to close at 14,185.64.
The bitcoin price shook investors badly yesterday after falling to the $43,200 level a few hours ago. Previously, it had risen well above $45,000 after the US CPI increased by 7.5% this month.
Bitcoin’s volatility has been painful for many leveraged traders. Coinglass data shows that more than $200 million was cleared yesterday and more than $120 million in the last four hours.
To date, nearly 70,000 traders have been liquidated, and the largest individual liquidation, valued at $1.5 million, occurred on FTX.
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Friday, February 11, 2022