# Intensified Crypto Market Correction: Long Liquidations Reach $480M+
The recent surge in the crypto market correction has escalated with the release of the US PCE data indicating rising inflation levels. Bitcoin (BTC) has dipped to $108,000, while altcoins like Ethereum (ETH), XRP, and Solana (SOL) are experiencing more significant declines.
## Market Liquidations Hit $580 Million
The market has witnessed a substantial increase in liquidations totaling over $580 million. This trend has caused concern among investors and analysts, leading to a heightened sense of volatility in the market.
## Peter Schiff Declares ‘Game Over’
Eminent investor Peter Schiff has weighed in on the matter, declaring ‘Game Over’ in response to the heated PCE data and its implications on the crypto market. His statement has added to the existing apprehension surrounding the market’s future trajectory.
### Federal Reserve’s Position
Federal Reserve Chair Jerome Powell is closely monitoring the situation as the market reacts to the economic indicators. Powell’s response and potential actions in light of the current market conditions will be crucial in determining the market’s stability in the near future.
**Conclusion:**
The crypto market is grappling with intensified corrections and significant liquidations as inflation concerns continue to impact investor sentiment. The declaration by Peter Schiff and the actions of the Federal Reserve will play a pivotal role in shaping the market’s direction moving forward. Investors are advised to closely monitor the evolving situation and adapt their strategies accordingly.