Crypto extends tumble into weekend after US inflation data; Ether falls 5%

Total long crypto liquidations were above $100 mn for a third straight day on Sunday, after $258 mn on Friday and $290 mn on Saturday, according to data from Coinglass

Bitcoin and Ether fell on Sunday amid a broader retreat by the cryptocurrency complex in the wake of data showing US inflation hitting a fresh 40-year high.

Ether declined as much as 5% to $1,445.56, its lowest level since March 2021, while Bitcoin dropped to as low as $27,264.65, its lowest since May 12. Virtually all top tokens tracked by Bloomberg were down Sunday, with the likes of Dogecoin and Avalanche down more than 7% as of 11 a.m. Singapore time.

US inflation data Friday topped expectations, dashing any hopes that rising prices may have peaked. Stocks sank while two-year