Bitcoin experienced sharp price fluctuations, initially rising to $57,000 before dropping below $55,000 following the U.S. jobs report release. This has triggered volatility in the crypto market.
The sudden price swing led to nearly $50 million in liquidations within an hour, affecting traders significantly.
Major altcoins like Ethereum, Solana, Ripple's XRP, and Cardano also faced losses, reflecting widespread market distress.
