CoinMeta data: According to analyst Darkfost from CryptoQuant, inflation in the United States exceeding expectations has caused severe fluctuations in the crypto derivatives market. On Binance, long positions were liquidated for over $106 million within an hour, representing the largest single-hour liquidation volume in nearly six months. He believes that the current futures trading volume in the crypto market has reached about 9 times that of spot trading, and the high leverage structure makes the market more sensitive to macroeconomic changes. As inflation continues to rise, expectations for another interest rate hike by the Federal Reserve have increased, with the related probability rising from 17% to nearly 30% within a week, and investors' concerns are being concentratedly released through the derivatives market.