An unexpected anomaly has been witnessed in the crypto market, with Cardano (ADA) experiencing a remarkable surge in bullish liquidations while bearish ones remain minimal. Approximately $320,670 was liquidated from long positions within just one hour, far surpassing the meager $8.97 liquidated from short positions, resulting in an extraordinary difference of nearly 4,000,000%.

Source: CoinGlass

This surge in bullish liquidations coincided with a 3% price decline in Cardano within the same hour, potentially influenced by recent negative macroeconomic indicators from the US economy.

These indicators include a significant drop in the Michigan Consumer Sentiment Index from 77.2 to 67.4, indicating a decrease in consumer confidence. Moreover, consumer inflation expectations have increased, with 1-year expectations rising from 3.2% to 3.5%, and 5-year expectations increasing from 3% to 3.1%.

ADA to USD by CoinMarketCap

The Michigan Consumer Sentiment Index is a barometer of consumer sentiment towards economic conditions, with lower values signaling reduced confidence that can impact spending behaviors. Additionally, the rise in inflation expectations suggests that consumers anticipate higher prices for goods and services in the future, potentially leading to changes in economic dynamics and spending patterns.

These economic developments may have influenced market sentiment and contributed to the surge in liquidations observed in Cardano trading. However, the overwhelming dominance of long liquidations over shorts by 4,000,000% is a clear indication of excessive greed prevailing in the market.