Earthquake in Bitcoin (BTC).

#Bitcoin (BTC), the world's largest cryptocurrency in terms of market value, lost 6.43 percent in the last 24 hours and fell to the $95,000 band. BTC and the crypto market under its leadership, which made an upward start to the week and raised investors' hopes for the new year, lost blood due to the weak macroeconomic data from the US yesterday.

The sudden decline in $BTC left investors waiting in the futures market, that is, in a long position, in a tight corner. According to Coinglass data, a total of 692 million ($631 million in long positions and $60 million in short positions) melted from the market in the last 24 hours.

It is possible to associate the loss of value in Bitcoin with the panic atmosphere in the US stock markets. In fact, the Dow Jones index lost 0.42 percent, the S&P 500 lost 1.11 percent, and the technology exchange Nasdaq lost 1.89 percent.

The first of the weak macroeconomic data that shook both traditional and crypto markets was the unexpected increase in the number of open positions from the US Bureau of Labor Statistics. While the number of open positions in November was announced as 8.1 million, the market expectation was the opposite, falling to 7.7 million. Another negative data came from the ISM Purchasing Managers Index for the services sector. The index announced by the US Institute of Supply Management announced the December data as 54.1, but the market expectation was 53.3.

The reason for the panic in both markets is that the negative data has a direct impact on the monetary policy of the US Federal Reserve (Fed). The Fed, which has been following a monetary tightening policy for three years, has been enthusiastically welcomed by the markets when it cut interest rates. The markets expect the monetary abundance to continue for the new year. However, the negative data that came in can be related indirectly, not directly, to whether the Fed will apply the brakes on interest rate cuts.