Cryptocurrency, Dogecoin and Solana Plunge as Jobs Data, Rate Cut Objectives Spook Investors

As fresh economic data appears to be stifling the blockchain and stock markets, crypto costs are plunging across the board early on Tuesday, with significant assets like Bitcoin, Dogecoin, and Solana being the main drivers.

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, however, have both fallen by about 7 % on the day, with Solana close behind with a 6 % decline.

Along with shareholders no more charges in an interest rate cut from the Federal Reserve in the first quarter of 2025, hotter-than-expected information on job opportunities in the United States appears to have played a part.

Following the correction in the markets, crypto liquidations increased, with$ 385 million value of long and short positions cause in the last 24 hours, according to CoinGlass data. Long jobs account for the majority of the insolvencies, accounting for$ 230 million in the last four hours only, accounting for the remaining$ 212 million.