A significant $941 million in positions were liquidated across the crypto market, primarily affecting long positions, as Bitcoin, Ethereum, and Dogecoin experienced a pullback after a bullish week. The U.S. Producer Price Index (PPI) report revealed a 0.9% increase in July—the largest gain in over three years—prompting traders to react and adjust their positions. As a result, Bitcoin dropped by 2.2%, Ethereum by 2.4%, and Dogecoin by 3.7%. Despite this minor pullback, experts suggest it is a normal occurrence during volatile market conditions, particularly near all-time highs. Analysts indicate that high leverage trading exacerbated the situation, leading to the cascade of liquidations, which were majorly centered around ETH, BTC, and DOGE. Looking forward, some analysts project that current market pullbacks may be temporary due to anticipated liquidity increases towards the year-end.

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