Bitcoin traders brace for $1 billion liquidation trap after inflation shock breaks $80,000

Bitcoin’s break below $80,000 has pushed traders toward a crowded leverage zone where a further decline could force about $1 billion of long positions out of the market. According to CryptoSlate data, the largest cryptocurrency fell to as low as $78,725 after US inflation readings came in hotter than expected, weakening expectations that the Federal Reserve will be able to cut interest rates later this year. As of pr…