The leading cryptocurrency’s price slid on Monday following the release of Consumer Price Index data showing that inflation in the U.S. was higher than market forecasts. The decline took the asset to $73,588, its lowest level in nearly three months, and triggered the liquidation of between $178M and $200M in long positions in a single hour.
The turmoil follows a broader market slump over the weekend that erased more than $1.1B in leveraged bets, driven by geopolitical tensions and a board probe at Nvidia. Solana also retreated on Monday, falling to $84, while market sentiment remained low with a Fear & Greed index reading around 30.
