Following the release of the US jobs report for December, Bitcoin experienced a sharp decline of 2,000 USD. The report showed job growth surpassed expectations with 256,000 new jobs, suggesting a strong economy under President-elect Trump. This economic news, however, led to negative reactions in the cryptocurrency market.
The unexpected economic data caused Bitcoin’s price to fall, influencing altcoins like ETH and XRP to decrease similarly. Additionally, there was a surge in liquidations, with over 320 million USD affected within 24 hours, impacting more than 120,000 traders. The overall market experienced harsh price retracements following this development.
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