On September 11, the latest CPI data from the United States was released, igniting an already tense emotional atmosphere in the crypto market: Bitcoin first briefly dipped to around $76,046 before and after the data was announced, and then quickly reversed course after the announcement, rebounding more than $3,000 in a short time, reclaiming and exceeding the $79,000 mark, with the intraday high range around $79,000-$79,300. Multiple market platforms and industry media provided similar quotations confirming this breakout. At the same time, Ethereum also surged, with its price rising back above and breaking through the $2,600 psychological level, becoming another main line of strength. Under the rapid price increase, high-leverage positions in the contract market were concentrated and liquidated. According to Coinglass statistics, approximately $166 million in positions were liquidated across the entire network within the following hour, of which about $146 million were from short positions and about $20.4 million from long positions, showing that the scale of short liquidations was about seven times that of longs, indicating that this round of market activity was not a gentle climb but rather typical of a scenario triggered by CPI, amplified by concentrated short liquidations that intensified market fluctuations.
Bitcoin Soars $3,000 After CPI Release
Before the latest round of U.S. CPI data was announced on September 11, Bitcoin retraced in a context of cautious sentiment, briefly dipping to around $76,046, with trading primarily characterized by waiting and slight reductions in positions. Once the data was released and uncertainty was dispelled, buying volume quickly surged, leading Bitcoin to rapidly climb from approximately $76,046, with a daily increase exceeding $3,000, regaining the area above $79,000, and the temporary price range fluctuating between $79,000 and $79,300. Foresight News, Jinse Finance, BlockBeats, Odaily Planet Daily, Shenchao TechFlow, PANews, and other media subsequently cited market data from platforms such as Bitget, HTX, and OKX, confirming this price movement.
From the perspective of growth structure, near the time the CPI was announced, Bitcoin's daily increase rapidly surged to approximately 2.3%-3.2% (with slight variations in statistics from different platforms), corresponding to a swift transition in market sentiment from "risk aversion" to "renewed risk appetite." The uncertain expectations prior to the data release were suddenly replaced by known information, combined with high-leverage shorts being passively liquidated, causing Bitcoin's price to reverse from around $76,000 to above $79,000 in an extremely short time frame, presenting a classic case of a macro trigger influencing market sentiment shifting from caution to aggression in a rapid short-term rally.
Bitcoin Breaks $79,000 Mark, Multiple Platforms Synchronize Prices
From the source of the data, Bitcoin's breakout above $79,000 was not a "spike" from a single platform but rather a range trend confirmed simultaneously by multiple media outlets and exchanges. On September 11, Foresight News, Jinse Finance, BlockBeats, Odaily Planet Daily, Shenchao TechFlow, and PANews all sent out reports indicating that BTC had broken above $79,000. These reports widely cited spot or contract price data from multiple trading platforms such as Bitget, HTX, and OKX, showing that shortly after the CPI release, the mainstream transaction price of BTC concentrated around $79,000-$79,300, rather than isolated trades at single points or in low liquidity markets.
In terms of price attributes, the $79,000 mark is, on one hand, a typical psychological barrier at a round number, and after several days of high volatility, this level is naturally viewed by both bullish and bearish funds as a short-term dividing line. On the other hand, the price quickly surged over $3,000 from $76,046, creating a new short-term transaction concentration zone between $79,000 and $79,300, thus giving this area a "gear shift" significance in both psychological and technical terms. Combining the 24-hour percentage increase data provided by various platforms, BTC's overall daily increase was roughly in the range of 2.3%-3.2%, a rise that was not extreme, but the concentration of rebounds within a very short post-CPI release window reflects a rhythm-influenced short-term surge, rather than a uniform day-long climb. This makes $79,000 both an emotional anchor point in this round of movement and the primary observation point for the ensuing bull-bear contest.
Ethereum Breaks $2,600, Becomes Main Battlefield for Liquidations
At the same time Bitcoin was ignited by the CPI data and surged back above $79,000, Ethereum also amplified this round of linkage effect. On September 11, the price of ETH broke through the $2,600 mark, with its price movement clearly following Bitcoin's rapid "surge" in a very short time frame, rather than a slow ascent. This indicates that the emotional and capital switch triggered by macro data in this round was not confined to a single major asset but quickly transmitted to Ethereum, the second-largest mainstream asset by market capitalization, making ETH a key vessel for amplified leverage expectations.
The higher volatility was directly reflected in contract liquidation data. According to Odaily Planet Daily, citing Coinglass statistics, within the hour following ETH’s break above $2,600, approximately $166 million in positions were liquidated across the network, of which about $112 million were related to ETH, while Bitcoin saw liquidations of around $27.71 million. This simple breakdown shows that ETH accounted for nearly two-thirds of the total liquidations during this one-hour period, while BTC accounted for less than one-fifth. In direction, approximately $146 million of the $166 million total liquidations came from short positions, with long positions making up only about $20.4 million, indicating that shorts being passively liquidated were the absolute main force. ETH undertook a much larger liquidation volume compared to BTC, meaning that more high-leverage, concentrated betting positions accumulated in Ethereum in this round of market activity. Once prices broke through in that direction, the ETH market was more likely to evolve into a main battlefield for concentrated short exits.
One Hour $166 Million Liquidation, Shorts During Collective Squeeze
According to Coinglass statistics, within the same hour when Bitcoin returned to $79,000 and Ethereum broke $2,600, the cumulative liquidations across the contract market totaled about $166 million, of which about $146 million came from shorts, while long positions accounted for only about $20.4 million; the scale of short liquidations was approximately seven times that of long positions, indicating a clear one-sided shift towards a bearish direction. In terms of asset distribution, ETH saw about $112 million in liquidations, far exceeding BTC's approximately $27.71 million, indicating that the concentrated clearance of on-chain leverage occurred first in Ethereum contracts, subsequently amplifying with Bitcoin's surge.
This combination of "total liquidation expansion + short positions dominate" aligns more closely with the typical characteristics of leverage squeeze, rather than movements gently pushed up by spot buying: Prices surged rapidly under the stimulus of macro data, triggering substantial short positions with insufficient margin, while passive liquidations converted into buying strength that further pushed prices up, triggering the next batch of short liquidations. The result is that, in an extremely short time, short positions were cleared out, with little liquidation of longs, as the upward movement was primarily driven by the short side's passive exit rather than sustained incremental capital inflows from below.
How Macroeconomic Data Amplifies Crypto Leverage Risks
The chain of events on September 11 was very clear: after the latest U.S. CPI data was released, Bitcoin surged over $3,000 from the previously dipped area of around $76,046 within a very short time span, reaching the $79,000-$79,300 range, while Ethereum simultaneously broke through the $2,600 threshold. The steep reversal in prices triggered passive chain reactions on the leverage side. Coinglass data shows that during the corresponding one-hour period of this rapid surge, approximately $166 million in positions were liquidated across the network, of which about $146 million were from short positions and about $20.4 million from long positions; the scale of short liquidations approached seven times that of longs. When broken down by asset, the liquidations in ETH of about $112 million significantly exceeded BTC's approximately $27.71 million, indicating that leverage was concentrated on highly sensitive assets and the short side. When macroeconomic data becomes a time anchor that the entire market closely monitors, high-leverage positions are essentially making a threefold bet on "data results + market expectations deviation + on-chain and off-chain liquidity." Once the results deviate slightly from mainstream expectations, instantaneous price fluctuations combined with margin constraints can amplify directional discrepancies that could initially be digested through normal trading, transforming into passive forced liquidations and intense price volatility. The "CPI → rapid price surge → concentrated short liquidations" chain on September 11 demonstrates that maintaining high-leverage positions before and after the release of macroeconomic data exposes not only directional risks but also liquidity and chain reaction liquidation risks. Any imbalance at either end could evolve into concentrated squeezes across the entire sector within minutes.
Join our community to discuss and become stronger together!
AiCoin exclusive Hyperliquid benefits: https://app.hyperliquid.xyz/join/AICOIN88
AiCoin exclusive Aster benefits: https://www.asterdex.com/zh-CN/referral/9C50e2
On-chain Telegram community: https://t.me/AiCoinWhaleData
On-chain community: https://www.aicoin.com/link/chat?cid=N6OVMor5g
AiCoin on-chain Twitter: https://x.com/aicoinwhaledata
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
