Bitcoin reversed sharply after the U.S. jobs report, and according to unconfirmed reports more than $120 million in leveraged positions was wiped out within an hour as traders dumped the macro surprise.
TLDR Keypoints
- The March 6 BLS report showed nonfarm payrolls down by 92,000 and unemployment at 4.4%.
- Cointelegraph’s market report tracked BTC from $74,000 to $68,176, while Crypto Briefing described a drop from above $70,000 to about $68,700.
- The more precise $75,000 peak in the headline and the one-hour liquidation tally remain unconfirmed in the materials reviewed for this draft.
The Spot Move Is Better Documented Than the Liquidation Tally
Cointelegraph wrote that Bitcoin pushed to $74,000 before falling to $68,176 on Bitstamp after the labor data, while Crypto Briefing separately described a slide from above $70,000 to roughly $68,700.
The slide from $74,000 to $68,176 is enough to explain why leveraged longs were hit hardest. The liquidation figure in the headline, according to unconfirmed reports tied to CoinGlass liquidation tracking, could not be independently verified with a timestamped one-hour snapshot during research.
The Jobs Report Was the Clear Macro Trigger
In the Employment Situation release published at 8:30 a.m. ET on March 6, 2026, the U.S. Bureau of Labor Statistics said total nonfarm payroll employment edged down by 92,000 in February and the unemployment rate was 4.4%.
The same BLS release listed January payroll growth at +126,000, sharpening the contrast with February’s -92,000 print. The shift from +126,000 to -92,000 helps explain why a labor-market miss quickly repriced risk appetite across crypto, even before derivatives liquidations amplified the move.
What Traders Will Watch After the Flush
Bitcoin was recently changing hands near $74,622, giving traders a reference point well above the post-report low but still close enough to keep the failed breakout narrative alive.
With BTC near $74,622 and the verified post-report floor at $68,176, traders are watching whether the market can reclaim the range discussed in Bitcoin Nears $78K True Market Mean as Fed Data Looms or whether the weakness outlined in Bitcoin Price Analysis: Why the Next Few Days Are Crucial for BTC keeps the structure fragile.
A clean rebound above $74,622 would argue the jobs shock was a flush, while renewed selling toward $68,176 would suggest volatility remains elevated into the next macro catalyst. That is also why coin-specific breakouts such as XRP Hits 3-Week High Above $1.40 as Analyst Signals ATH Rally matter less in the immediate aftermath of a jobs-driven BTC move.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
