**US Inflation Causes Bitcoin to Plunge to US$85,000, Hundreds of Traders Liquidated**
Bitcoin has dropped back to US$85,000, resulting in more than 161,788 traders being liquidated, with long positions dominating at US$391.82 million and short positions contributing US$156.81 million, according to Coinglass, Friday (19/12).
This digital asset has faced significant bearish pressure after breaking through an important support level at US$88,000, triggering total liquidations of US$548.62 million and canceling the consolidation pattern observed in recent weeks. Moreover, the US inflation data falling to 2.7% was unable to help the crypto market recover to its previous highs.
Despite this, the market appears sluggish amid the anticipation of the Bank of Japan's decision regarding the benchmark interest rate, which is set to be released later today.
Disclaimer Alert. Not Financial Advice (NFA). Do Your Own Research (DYOR).
