Crypto Liquidations Total $661 Million as Bitcoin Plunges 7.5% in Hours

Bitcoin's price plunged 7.5% in a few hours on March 15th, falling from $72,000 to $66,500. Over $661 million in crypto liquidations occurred in 24 hours, affecting nearly 200,000 traders. Eighty percent of liquidations were long positions totaling $525.2 million, with short liquidations at $136.5 million. The crypto market cap declined 7.3% to $2.68 trillion as around $175 billion exited the space. Analysts suggest the recent ETF narrative may be turning, and inflation data accelerated declines. Stock markets also retreated on hot US inflation data, dashing rate cut hopes.