𝗖𝗿𝘆𝗽𝘁𝗼 𝗮𝗻𝗱 𝗦𝘁𝗼𝗰𝗸 𝗣𝗿𝗶𝗰𝗲𝘀 𝗧𝗮𝗸𝗲 𝗮 𝗛𝗶𝘁 𝗮𝘀 𝗨𝗦 𝗨𝗻𝗲𝗺𝗽𝗹𝗼𝘆𝗺𝗲𝗻𝘁 𝗥𝗶𝘀𝗲𝘀 🚨📉
Conor Devitt | August 3, 2024 | Bitcoin, Ethereum, Trading
📉 On Friday, both crypto assets and the stock market saw significant declines following a concerning U.S. Bureau of Labor Statistics (BLS) report. The report revealed a rising unemployment rate, reaching 4.3% in July – the highest since October 2021.
📊 While there were gains in healthcare, construction, and warehousing sectors, the information sector lost 20,000 jobs. Total nonfarm payroll employment increased by just 114,000 jobs, far below the average monthly gain of 215,000 jobs over the past year.
💔 Bitcoin (
$BTC ) fell below $62,000 for the first time in nearly three weeks, trading at $61,458 – down nearly 5.5% in the past 24 hours. Ethereum (ETH) also slipped below $3,000, trading at $2,980, marking a 6.5% drop. The overall crypto market cap declined by 5.8%, according to CoinGecko.
📉 Stocks mirrored the crypto market's downturn, with the S&P 500 dropping 1.84%, the Nasdaq falling 2.38%, and the Dow Jones Industrial Average slipping by 1.21%.
Stay updated on price action by subscribing to email alerts and following us on Binance. Join the conversation on The Daily Hodl Mix. 🚀💬
Your generous tips help us provide top-tier investment advice! ❤❤❤
#Crypto #Write2Earn! #Bitcoin #StockMarket #EconomicNews