BTC was rising above $82,000, but after strong U.S. labor market data was released, it suddenly dropped below $78,700. 📉
The strong jobs data reduced expectations of aggressive Fed rate cuts, which put pressure on Bitcoin and other risk assets.
At the same time, around $200–300 million worth of long positions were liquidated, causing a sharp market shakeout.
Interestingly, U.S. Spot Bitcoin ETFs had around $731 million in net inflows, showing strong buying interest. However, the positive ETF flows couldn’t prevent the short-term sell-off caused by the macroeconomic news.
In short: Strong jobs data → Fed rate-cut expectations fall → BTC dumps → long positions get liquidated. ⚠️$BTC
The strong jobs data reduced expectations of aggressive Fed rate cuts, which put pressure on Bitcoin and other risk assets.
At the same time, around $200–300 million worth of long positions were liquidated, causing a sharp market shakeout.
Interestingly, U.S. Spot Bitcoin ETFs had around $731 million in net inflows, showing strong buying interest. However, the positive ETF flows couldn’t prevent the short-term sell-off caused by the macroeconomic news.
In short: Strong jobs data → Fed rate-cut expectations fall → BTC dumps → long positions get liquidated. ⚠️$BTC