Forex
US Jobs Surprise Sends Bitcoin Price Plummeting to $80K
Bitcoin's price plummeted by 1.7% immediately after the release of the US August nonfarm payrolls data, which came in far above market expectations.
The strong employment numbers weighed on risk assets, causing a chain reaction of long-position liquidations across the cryptocurrency market.
Crypto-focused outlet Cointelegraph reported that approximately $200 million in crypto long positions were liquidated within an hour following the data release.