๐๐ฟ๐๐ฝ๐๐ผ ๐ฎ๐ป๐ฑ ๐ฆ๐๐ผ๐ฐ๐ธ ๐ฃ๐ฟ๐ถ๐ฐ๐ฒ๐ ๐ง๐ฎ๐ธ๐ฒ ๐ฎ ๐๐ถ๐ ๐ฎ๐ ๐จ๐ฆ ๐จ๐ป๐ฒ๐บ๐ฝ๐น๐ผ๐๐บ๐ฒ๐ป๐ ๐ฅ๐ถ๐๐ฒ๐ ๐จ๐
Conor Devitt | August 3, 2024 | Bitcoin, Ethereum, Trading
๐ 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 โ the highest since October 2021.
๐ 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.
๐ Bitcoin ($BTC ) fell below $62,000 for the first time in nearly three weeks, trading at $61,458 โ 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.
๐ 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%.
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