Bitcoin liquidations exceed $1 billion amid market swings

GreyOak summary

Bitcoin experienced significant volatility with over $1.3 billion in bullish positions liquidated in a single 24-hour session. The asset fell 5.4% to $67,600, driven by ETF outflows, a risk-off mood, and the fallout from a Binance hack. Elevated oil prices and sticky inflation have further reinforced expectations for additional Federal Reserve rate hikes.