U.S. CPI Exceeds Expectations, Triggering a Stampede of ETH Longs, Over $106 Million Liquidated on Binance in One Hour

BlockBeats news, October 15 - Crypto market analyst Darkfost posted that the latest US CPI data came in higher than market expectations, reigniting inflationary pressures and triggering sharp volatility in the crypto derivatives market.

Following the inflation data release, Ethereum suffered massive long liquidations. Darkfost stated that Binance ETH contracts saw over $106 million in long positions liquidated within one hour, the largest single-hour liquidation event in nearly six months. ETH subsequently fell from around $2,500 to near $2,350, a drop of approximately 7%.

Darkfost noted that crypto futures trading volume is currently about 9 times that of spot trading volume, making the market more sensitive to macroeconomic data. As inflation heats up, the market's expected probability of a Fed rate hike rose from 17% to nearly 30% within a week, with investors rapidly adjusting positions through the derivatives market.