Crypto Crash: Bitcoin Drops Below $97K Amid Rate Cut Doubts

Market Woes: Economic Data Sparks Crypto and Stock Selloff
Over $483M Liquidated as Bitcoin and Ethereum Plummet
PMI Surge Shakes Markets: Crypto and Stocks Take a Hit
Fed Rate Cuts in Doubt? Bitcoin, Stocks React to Stronger Data
Bitcoin Tumbles, S&P Falls: How Economic Reports Shifted Expectations
Longs Liquidated: $483M Wiped Out in Crypto Market Correction
Crypto Meets Reality: Rate Cut Hopes Dimmed by Strong Data

Crypto Market Declines: Bitcoin dropped to $96,909 (over 5% down), while Ethereum fell 8% and Solana declined 7%.

Liquidations: Over $483.44M in long positions were liquidated within 24 hours, as per Coinglass data.

Economic Indicators:
The December PMI rose to 54.1, surpassing expectations and November’s 52.1.

The JOLTS report revealed higher job openings but lower hiring, and the quit rate dropped to 1.9% (from 2.1%).

Investor Recalibration: Traders now see less than a 50% chance of Federal Reserve rate cuts before June, with rates expected to remain steady in January.

Traditional Market Impacts:
The S&P 500 fell 1.1%, while the Nasdaq Composite dropped 1.9%.
Nvidia shares plunged 6.2% despite CEO Jensen Huang unveiling new AI initiatives at CES.

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2025 Crypto Forecast: DOGE, PEPE, and Yeti Ouro Ready for Explosive Growth