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<ul> 
 <li style="font-weight: 400">Bitcoin <a href="https://coinstats.app/coins/bitcoin/">price</a> plunged sharply below $62,000 and Ethereum <a href="https://coinstats.app/coins/ethereum/">dipped</a> under $3,000 as the impact of recession and a poor US jobs report continues to reverberate.</li> 
</ul> 
The crypto market is bleeding red as of late Friday afternoon, with major assets like Bitcoin and Ethereum plunging by 5% or more following a rough U.S. jobs report that also spooked the stock market—and prompted fears of an impending recession. 
<figure id="attachment_78592" aria-describedby="caption-attachment-78592" style="width: 100%" class="wp-caption aligncenter">
 <img fetchpriority="high" decoding="async" class=" wp-image-78592" src="http://bitcoinworld.co.in/wp-content/uploads/BTC-Price-Chart-74-483x300.png" alt="" width="644" height="400" srcset="https://bitcoinworld.co.in/wp-content/uploads/BTC-Price-Chart-74-483x300.png 483w, https://bitcoinworld.co.in/wp-content/uploads/BTC-Price-Chart-74.png 760w" sizes="(max-width: 644px) 100vw, 644px">
 <figcaption id="caption-attachment-78592" class="wp-caption-text">
 BTC Price Chart | Source: CoinStats
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</figure> 
&nbsp; 
The price of Bitcoin fell well under $62,000 on Friday, dipping as low as $61,308 per data from CoinGecko. It’s back up to just above $62,000 as of this writing, but is still down about 5% on the day from a 24-hour peak of $65,505. 
<figure id="attachment_78591" aria-describedby="caption-attachment-78591" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class=" wp-image-78591" src="http://bitcoinworld.co.in/wp-content/uploads/ETH-Price-Chart-24-483x300.png" alt="" width="642" height="399" srcset="https://bitcoinworld.co.in/wp-content/uploads/ETH-Price-Chart-24-483x300.png 483w, https://bitcoinworld.co.in/wp-content/uploads/ETH-Price-Chart-24.png 760w" sizes="(max-width: 642px) 100vw, 642px">
 <figcaption id="caption-attachment-78591" class="wp-caption-text">
 ETH Price Chart | Source: CoinStats
 </figcaption>
</figure> 
&nbsp; 
Meanwhile, Ethereum fell sharply, dipping down to $2,967 after being above the $3,200 mark less than a day ago.&nbsp; 
At a current price of just under $3,000, it’s still down nearly 6% on the day. Other major assets have seen similar or even larger dips, such as Solana, which is down more than 7% at a price of $154. 
Volatility across the crypto markets on Friday led to another spike in liquidations of long and short positions, or bets that the future price of a crypto asset will rise or fall, respectively.&nbsp; 
As of this writing, CoinGlass reports $269 million worth of positions liquidated over the past 24 hours across the market, led by $82 million worth of Bitcoin positions. 
It’s the second straight day of sizable crypto liquidations as the price of top assets continue to fall. 
A weaker-than-expected U.S. jobs report released early Friday appeared to spook markets across the board, with the stock market showing red across the board and crypto prices eventually following suit.&nbsp; 
The report, which noted a jump in the unemployment rate as nonfarm jobs fell well short of expectations, prompted fears that a U.S. recession is taking hold. 
However, while the panic has shown apparent short-term effects on crypto prices, some analysts believe that Bitcoin may ultimately benefit amid a weaker U.S. dollar and potential Federal Reserve interest rate cuts that are expected. 
“With the Fed weakening monetary policy, it will be supportive for fixed-supply assets such as Bitcoin and gold,” CoinShares Head of Research James Butterfill said. 
Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Bitcoin and Ethereum Prices Plunged on Recession Fears as Liquidations Spike

ItsBitcoinWorld

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