Crypto Carnage: $2B Liquidation Tsunami Triggers as July PPI Data Spikes
Crypto markets got steamrolled by a macro haymaker today—July's hotter-than-hell PPI print sent leveraged positions straight to the slaughterhouse.
Blood in the algo-churned waters
Market makers pulled liquidity faster than a DeFi rug pull, cascading into the biggest single-day liquidation event since the Fed last hiked rates. Longs got rekt with the precision of a MEV bot snipe.
The great leverage flush
Traders who forgot that CPI isn't the only inflation metric got a brutal reminder—PPI's wholesale price surge hit crypto like a triple-leveraged ETH short. Even 'hedged' portfolios got liquidated—turns out your 10x long on shitcoins doesn't count as inflation protection.
Silver lining for degenerates
On-chain data shows whales accumulating at these levels—because nothing gets crypto traders hornier than buying the dip before the next Fed pivot narrative. Just don't tell them PPI leads CPI by 3 months.
