Bitcoin Falls Near $80,500 as Over $2 Billion in Leveraged Positions Liquidated

Bitcoin dropped to approximately $80,500 on Friday before recovering toward $84,000, following stronger-than-expected U.S. employment data that showed 119,000 new jobs in September. The sell-off triggered over $2 billion in liquidations of leveraged positions within 24 hours, affecting roughly 400,000 traders. JPMorgan analysts cited approximately $4 billion in withdrawals from spot Bitcoin and Ethereum ETFs since early November as a primary driver of the correction.