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Bitcoin hit an intraday low of $79,730 before recovering to approximately $82,000. The move came as surging US wholesale inflation data intensified a broader cryptocurrency selloff, triggering nearly $940 million in liquidations. The price decline extended as the stronger-than-expected inflation figures raised concerns regarding a potential additional interest rate hike by the Federal Reserve. According to CoinGlass data, 176,506 traders were liquidated during the volatility.
