Crypto Market Sees Over $500M Wipeout as Hot PPI Data Crushes Hopes for Fed Rate Cuts

Over $500 million in cryptocurrency positions were liquidated in the past 1 hour as investors reacted sharply to the latest U. S. Producer Price Index (PPI) report. The hotter-than-expected inflation data has effectively eliminated near-term expectations for Federal Reserve interest rate cuts, sending bearish threat through the crypto market. US PPI Data Comes in Hot Worries … source: https://coinpedia.org/news/crypto-market-sees-over-500m-wipeout-as-hot-ppi-data-crushes-hopes-for-fed-rate-cuts/