Crypto Prices Plunge as Inflation Triggers $650M in Liquidations

• Crypto market cap dropped 7% with bitcoin, ether, and others falling sharply in 24 hours • Decline triggered by higher-than-expected inflation data and profit-taking • Bitcoin plunged 8% to $65,800, ether and other major tokens saw similar losses • Over $650M in liquidations occurred as crypto futures traders suffered losses • Analysts predict further slump to $60K support levels before a potential rebound