The crypto market tumbled to begin the week as heightened macro concerns triggered more than $500 million in forced selling of long positions.

The price of bitcoin was last lower by 1.1% at $116,394.87, after touching a new all-time high last week – its fourth one this year – at $124,496. At one point, it fell as low as $114,706. Ether slid 2.5% to $4,354.00 after coming within spitting distance of its roughly $4,800 record last week. Both coins rolled over after higher-than-expected July wholesale inflation data raised questions over a Federal Reserve rate cut in September.

Investors' profit-taking triggered a wave of liquidations across the crypto market.

In the past 24 hours, sales from 123,836 traders totaled $530.79 , according to Coin Glass. That figure inc

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