Cryptocurrency market has recently seen major volatility with Digital Asset prices swinging following the release of US consumer price index data. Bitcoin (BTC) has been the most affected among the crypto-verse and saw a price dip as low as $26992 per coin. This plunge led to a liquidation of over 50,000 traders and a total of $190 million being breached. Moreover, the single-largest liquidation order that happened on Bitmex XBTUSD was valued at 10 million.

Bitcoin saw a minor recovery after dipping to the lower price, and is currently trading around the $27k-level. The 24-hour trading volume is up by 57% to stand at around $21 billion. The market dominance for Bitcoin currently stands at 46.89%, a decrease of 0.07% over the past 24 hours.

The liquidated traders have been majorly taken from the long position which makes up for 64% of the liquidation. The overall dip in the market has been attributed to the changes in consumer prices throughout the US. Prices in the global digital asset market had plunged to register red indexes on Thursday after the more significant than expected dip in consumer price indexes.

While the market still faces a few uncertain days ahead, its short term prediction looks to remain bearish. A few traders are still in a "wait and watch" mode, until the market's future becomes more certain.



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