Bitcoin, Ethereum, XRP, Dogecoin Plunge 2% as Jobs Report Spurs Rate Hike Bets
Bitcoin fell below $80,000 after a strong jobs report increased Federal Reserve rate hike expectations. Ethereum, XRP, and other major cryptocurrencies also dropped by around 2%. Coinglass data showed $523.10 million in liquidations over 24 hours, while SoSoValue reported significant inflows into Bitcoin and Ethereum ETFs. Analysts noted key support levels and potential price movements.
How this was made
The 30-second read
Why it matters
Crypto prices fell ~2% across major coins as traders priced in higher borrowing costs.
Market read
The macro data directly moved crypto prices, creating short‑term trading opportunities.
What to watch
Liquidity inflows into spot Bitcoin ETFs may cushion further declines.
Background
A stronger‑than‑expected US jobs report raised expectations of a Fed rate hike, triggering a sell‑off in risk assets.
Ticker impact
Bitcoin fell below $80,000 after the strong jobs report raised rate hike expectations.
Further downside if rate hike expectations persist.
Jobs data is a fresh macro release that directly moved crypto prices.
Ethereum retreated alongside Bitcoin following the jobs report.
Potential further weakness pending Fed decision.
Same macro catalyst as Bitcoin.
XRP slipped 2% after the jobs report spurred rate‑hike expectations.
Likely to stay pressured until macro risk eases.
Macro‑driven risk off affects XRP similarly.
Dogecoin dropped 2% as the jobs report revived rate‑hike bets.
Further downside possible if market risk aversion rises.
Direct reaction to the same macro event.
Market effects
Risk‑off sentiment may pressure all risk assets, especially crypto.
US rate‑hike expectations affect global markets.
Broad impact on crypto markets worldwide.
Counterpoint
If the Fed holds rates, crypto could rebound quickly.
Key entities
- RegulatorFederal Reserve
U.S. central bank whose policy outlook drives market risk sentiment.
