Bitcoin flash-crashes to $58K on hot PCE data; $1.46B liquidated in 24 hours – Link

Bitcoin dropped from about $61K to a low near $58K after the May PCE print came in at 4.1% y/y, its highest since April 2023. The move triggered $1.46B in crypto liquidations across 209,000 traders in 24 hours, including $600M in one hour.
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