Over $546 million in cryptocurrency long positions were liquidated within an hour following the release of U.S. Producer Price Index data, sending shockwaves across digital asset markets. This sudden market downturn impacted major cryptocurrencies including Bitcoin and Ethereum, prompting a substantial sell-off. traders and institutions holding these leveraged positions faced forced liquidations, resulting in significant financial losses. Experts are highlighting the vulnerability of cryptocurrency markets amid economic shifts, drawing parallels to previous large-scale sell-offs in 2020. The market’s reaction highlights the crucial role that economic indicators play in shaping crypto asset valuations.