Bitcoin has shown significant sensitivity to updates from the U.S. political and economic landscape, evidenced by a sharp $2,000 drop within just 30 minutes.
This sudden movement followed the release of the latest U.S. jobs report for December, which revealed a striking gap between the actual number of jobs added and the more conservative predictions.
The data from the U.S. Bureau of Labor Statistics indicates that over 100,000 more jobs were added in December than analysts had anticipated. While this is a positive signal for the broader U.S. economy, the cryptocurrency market responded with swift and steep declines.
Bitcoin, which has faced challenges throughout the week despite briefly surpassing the $100,000 mark, had managed to stabilize around $95,000. However, the unexpected jobs data triggered an immediate sell-off, pushing BTC down by $2,000 within moments.
Altcoins mirrored Bitcoin’s volatility. Ethereum dropped toward $3,200, while XRP slipped from $2.31 to $2.24, before staging a modest recovery to $2.27.
The market turmoil led to a surge in liquidations, totaling over $320 million within 24 hours. In the past hour alone, liquidations exceeded $60 million, with more than 120,000 traders facing losses, according to data from Coinglass.
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