The crypto market took a sharp dive after new US jobs data dropped: Bitcoin is now trading under $80,000, and Ethereum has slipped below $2,500. The spike in volatility triggered a wave of liquidations for traders using leverage—derivatives platforms saw a massive flush of long positions in a matter of minutes.

Liquidations: Nearly $200M Wiped Out in One Hour

Market analytics from CoinGlass show almost $200 million in longs liquidated in the last hour alone. One of the biggest hits happened on Binance, where a whale’s BTC/USDT long worth $23.17 million got liquidated in a single order.

Key BTC and ETH Levels

BTC has broken below the $80,000 mark, and ETH is under $2,500. These price levels are now in focus for short-term traders as the market reacts to heightened sensitivity around macro news.

Traditional Market Backdrop

Traders are also watching the S&P 500 and the US Dollar Index (DXY) after the jobs report, weighing risk appetite and the dollar’s strength as outside factors impacting crypto prices.