Bitcoin rose briefly to $85,600 on Wednesday after U.S. personal consumption expenditures, or PCE, inflation data for August came in below expectations, then slipped back to $84,350. In derivatives trading, the four hours following the data release saw $55 million in short positions liquidated, along with $27 million in long positions. The move and liquidation figures were cited by Bitcoin.com News and carried in an Odaily newsflash. The report ties the short-lived price spike to the softer-than-expected inflation reading, while also showing that both sides of the market were cleared out in the immediate aftermath of the release.
Bitcoin briefly climbed to $85,600 on Wednesday after U.S. personal consumption expenditures (PCE) inflation data for August came in below expectations, then pulled back to $84,350.
In the four hours after the PCE release, the derivatives market liquidated $55 million in short positions and $27 million in long positions, according to Bitcoin.com News.
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