A sudden, hotter-than-expected PPI print triggered a rapid crypto selloff that wiped out roughly $1 billion in positions and liquidated over 200,000 traders, with about 75% of losses coming from longs.
The episode breaks down how the macro shock cascaded through markets, why meme coins suffered most while assets with perceived utility and institutional interest held up better, and highlights whale selling and a large ETH validator exit queue adding pressure.
We also recap contrasting analyst views — one bullish on regulatory progress and another warning of a potential altcoin pullback in September — and what these forces mean for short-term risk and longer-term innovation in crypto.
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