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Bitcoin Pumps, Then Dumps Below $54K as Market Awaits Fed Rate Cuts Following Jobs Report

By FXCOINZ Editorial

08/09/2024

Bitcoin’s price surged to $57,000 following the release of the U.S. jobs report, only to tumble below $54,000 shortly after, marking its lowest level since early August. This sharp drop triggered $50 million in liquidations across crypto markets, with major altcoins like Ether (ETH) and Ripple’s XRP also posting 2%-4% losses.