{"id":19477,"date":"2026-01-08T15:47:10","date_gmt":"2026-01-08T15:47:10","guid":{"rendered":"https:\/\/bitunikey.com\/news\/crypto-market-crash-continues-ahead-of-the-us-nfp-report\/"},"modified":"2026-01-08T15:47:21","modified_gmt":"2026-01-08T15:47:21","slug":"crypto-market-crash-continues-ahead-of-the-us-nfp-report","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/crypto-market-crash-continues-ahead-of-the-us-nfp-report\/","title":{"rendered":"Crypto market crash continues ahead of the US NFP report"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">The crypto market crash continued today, Jan. 8, as traders and investors anticipated the upcoming U.S. non-farm payrolls data, which will help to set the tone for the Federal Reserve.<\/p>\n<div id=\"cn-block-summary-block_dda577252f5d2a3cb39164150e01dc0d\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>The crypto market crash continued for the third day as Bitcoin and altcoins dropped.<\/li>\n<li>This decline happened a day before the US non-farm payrolls data.<\/li>\n<li>Bitcoin is forming an ascending triangle pattern, pointing to more gains.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>Bitcoin (BTC) price dropped from the year-to-date high of $94,5000 to $89,344, while Ethereum (ETH) fell below $3,057. As a result, the market capitalization of all coins dropped by 1.2% in the last 24 hours to over $3.17 trillion.<\/p>\n<p>Daily volume dropped by 17% to $113 billion \u2014 the lowest level this week.<\/p>\n<p>Additional data showed that futures open interest fell 1% to $139 billion, indicating that investors are reducing their leverage. Total liquidations rose to over $477 million, with Bitcoin and Ethereum bulls suffering the most liquidations.<\/p>\n<p>The crypto market downturn is unfolding as traders await Friday\u2019s non-farm payrolls report. Economists polled by Reuters expect the upcoming data to show the economy added more than 55,000 jobs in December. A <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/polymarket.com\/event\/december-unemployment-rate-938?tid=1767878602480\" target=\"_blank\" rel=\"nofollow\">Polymarket poll<\/a><strong> <\/strong>estimated that the country\u2019s unemployment rate dropped from 4.6% to 4.5%.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>The labor market is a key metric that crypto and stock market traders watch because of its impact on the Federal Reserve decisions, as it is part of the dual mandate. A weak report will be bullish for the crypto market, as it will raise the odds of the Fed cutting interest rates.<\/p>\n<p>The crypto market crash is also happening after demand for Bitcoin and XRP ETFs waned. Spot Bitcoin ETFs shed over $486 million in assets on Wednesday, after shedding $243 million in assets a day earlier. These outflows mean that the funds have had just $429 million in inflows this month.<\/p>\n<p>Spot Ethereum ETFs had over $98 million in outflows, while XRP funds shed $40 million in assets for the first time since their launch in November.<\/p>\n<h2 class=\"wp-block-heading\">Bitcoin price rising triangle pattern<\/h2>\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\">Bitcoin price chart | Source: crypto.news\u00a0<\/figcaption><\/figure>\n<p>On the positive side, the 12-hour chart above shows the coin has formed a rising wedge pattern, a common bullish continuation pattern.<\/p>\n<p>The higher side of this pattern is at $94,516, while the diagonal trendline connects the lowest swings since November. As such, the ongoing decline may be due to the coin retesting the diagonal trendline.<\/p>\n<p>Therefore, the Bitcoin price may rebound, pushing other altcoins higher in the coming months.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The crypto market crash continued today, Jan. 8, as traders and investors anticipated the upcoming U.S. non-farm payrolls data, which will help to set the tone for the Federal Reserve.&hellip;<\/p>\n","protected":false},"author":1,"featured_media":11763,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-19477","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/19477","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=19477"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/19477\/revisions"}],"predecessor-version":[{"id":19478,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/19477\/revisions\/19478"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/11763"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=19477"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=19477"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=19477"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}