Ether Drops Nearly 6% to Around $2,350 as Hot US CPI Triggers Liquidations

Ether slid nearly 6% to around $2,350 following a hotter-than-expected September U.S. Consumer Price Index report, which showed annual inflation rising to 3.7%. The report sparked heavy risk-off deleveraging, liquidating over $106 million in Ether long bets on Binance within a single hour—the exchange's largest hourly wipeout for the asset in six months. Over a 24-hour window, market-wide crypto liquidations reached $942.1 million, led by Ethereum liquidations that reached up to $288.60 million. Selling pressure was compounded by $130 million in net outflows from U.S. spot Ethereum ETFs on October 14.