#BinanceMegadropSolv

Bitcoin's price experienced a notable decline today, dropping over 5% from its recent high of approximately $102,000 to around $96,500.

This downturn is largely attributed to stronger-than-expected U.S. job data, which has influenced market sentiment. The Job Openings and Labor Turnover Survey (JOLTS) reported an increase to 8.1 million job openings in November, up from 7.8 million in October. This robust labor market data suggests that the Federal Reserve may maintain its current interest rate policies, reducing the likelihood of imminent rate cuts. The CME FedWatch tool indicates a 95% probability that the Federal Reserve will hold rates steady at its upcoming meeting.

The anticipation of sustained higher interest rates has led to a decrease in market liquidity, prompting investors to reassess their positions in riskier assets, including cryptocurrencies. This shift in sentiment has resulted in significant liquidations across the crypto market, with over $400 million liquidated recently, including $275 million within a four-hour window.

Despite this dip, the overall outlook for Bitcoin remains positive, with analysts projecting potential price increases in 2025. Factors such as the launch of spot Bitcoin exchange-traded funds (ETFs), Bitcoin's halving event, and anticipated crypto-friendly policies under President-elect Donald Trump's administration contribute to this optimism. However, market participants should remain cautious, as volatility is expected to persist in the near term.