Mar 28, 04:41 PM

Bitcoin Drops to $83,500 Amid $2.73 Trillion Selloff and 0.4% Inflation Increase; $445 Million in Derivatives Liquidated

Bitcoin's price has experienced significant volatility, dropping to $83,500 as the cryptocurrency market faced a selloff that erased $2.73 trillion in value. This decline follows a rise in core PCE inflation, which increased by 0.4%, surpassing expectations of 0.3%. The inflation data has raised concerns about the Federal Reserve's plans for rate cuts ahead of its April meeting. In the last 24 hours, $445 million in derivatives were liquidated, including $107 million in Bitcoin longs. As a result of the market turmoil, Bitcoin's trading volume surged by 17%. In South Korea, Bitcoin was trading at a premium of approximately $1,200 above the broader market, at $85,113. Meanwhile, Galaxy Digital has finalized a settlement deal valued at $200 million, and proposed tariffs by former President Trump could potentially generate $800 billion.

#Bitcoin #Federal Reserve #South Korea #Galaxy Digital #Trump

Written with ChatGPT (GPT-4o mini).

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Bitcoin Drops to $83,500 Amid $2.73 Trillion Selloff and 0.4% Inflation Increase; $445 Million in Derivatives Liquidated

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