Friday turned brutal for crypto, even as gold and bonds pumped on weak U.S. jobs data. Instead of rallying on hopes of rate cuts, Bitcoin and altcoins crashed hard.
📉 Key Highlights:
$BTC C dropped 3% to ~$113.8K
$ETH H, SOL, DOGE, BNB plunged ~6%
Coinbase (COIN) fell 18% after poor earnings
Even Riot and Circle weren’t spared
🪙 Meanwhile, XRP showed some strength, down only 2.9%.
💼 U.S. July jobs report was soft, with downward revisions for May & June—worst 3-month streak since 2020. This could push the Fed toward a September rate cut.
💬 Trump blasted Powell again: “DROP THE RATE.” He also demanded the firing of the labor stats chief, accusing her of data manipulation.
📊 Nasdaq slid 2.5%, while 10-year Treasury yields fell and gold surged 1.5% to $3,400.
Markets may want rate cuts—but this time, crypto didn’t get the memo.
