That is why you should not use leverage, after the CPI release BOTH shorts and longs got liquidated to a total of $60M.

Today not really much changed on the charts as we had our CPI release at 6.4% which was just slightly higher than the 6.2% predicted by analysts but it did not change much as the prices did exactly what they do always, pump and dump. Still there was obviously also a lot of excitement and many opened longs or shorts while trying to predict the market, which has never played our well.

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All Crypto liquidations from Coinglass

Directly after the CPI numbers released we had a slight dump to range low levels of $21.5k but it was just very brief and caused equal long and short liquidations on BTC of about $1M each, once again showing hwo the market will just rek both at once. After that we had a unexpected pump as many would have thought that the CPI ending up below expectations would mean a dump but once again the market did exactly what we did not expect and pumped.

This caused a massive $23M short liquidations in just one simple move, a lot of people lost their money there and there was arguably no logical way to predict this pump but this is exactly what the Crypto markets always do, proving everyone wrong just once they think they can easily predict it all.