Due to the loss of about $89 billion in cryptocurrency, the market value of cryptocurrencies has fallen back below $1 trillion.
In the crypto derivatives market today, over 97k traders liquidated positions worth over $357 million; with long BTC positions making up around 75% of those transactions.
The most popular cryptocurrency was recently trading at just around $20,300; down considerably for the day and more than 7% from the day before.
From where it had been hanging around $22,500 just before the news was announced; Bitcoin plunged more than 5% in the hour that followed the CPI release and kept falling.