$BTC $DOGE

🚨 Crypto Market Update: DOGE Slumps 10% Amid Bitcoin Slide 🚨

Major Drop in Crypto: Dogecoin (DOGE) led the decline, dropping 10%, while Solana (SOL), Cardano (ADA), Binance Coin (BNB), and Ethereum (ETH) fell by 7%. Bitcoin (BTC) slid 5.5%, landing at ~$96K. 📉

Liquidations Soar: Over $560M in long positions liquidated as traders faced a margin crunch. This cycle of forced selling caused prices to drop further. 💥

Economic Data to Blame: Strong U.S. job data and soaring Treasury yields caused jitters, impacting both crypto and U.S. stocks. The 10-year Treasury yield hit its highest level since May. 📊💵

Market Reactions:

Optimism for the Future: Vince Yang (zkLink CEO) believes these dips often lead to bigger bullish movements. A more crypto-friendly U.S. administration could spell exciting times ahead. 🚀

Caution in January: Singapore-based QCP Capital warns of a shaky January due to looming risks, including the U.S. debt ceiling issue. ⚠️

💡 Takeaway: While the short-term looks rocky, history suggests potential for a stronger bounce-back. Stay prepared for market volatility! 🌟

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