Cryptocurrency prices are plunging across the board early Tuesday, led by major assets like Bitcoin, Dogecoin, and Solana, as new economic data appears to be sending a chill across the crypto and stock markets alike.
Bitcoin plunged from a price of nearly $101,000 to a current price of $97,856, showing a more than 4% dip on the day. Ethereum and Dogecoin, meanwhile, have both fallen by about 7% on the day, with Solana close behind with a 6% drop.
Hotter-than-expected data on job openings in the United States appears to have played a role, along with investors no longer pricing in an interest rate cut from the Federal Reserve in the first half of 2025.
Crypto liquidations jumped following the markets correction, with $385 million worth of long and short positions nuked over the last 24 hours per data from CoinGlass. Some $230 million worth came in the last four hours alone, with long positions making up the vast majority of the liquidations at $212 million.
Editor’s note: This story is breaking and will be updated with additional details.
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Source: https://decrypt.co/299875/bitcoin-dogecoin-solana-plunge-jobs-data-rate-cuts
