Crypto Market Bloodbath: Three Reasons Traders Are in Risk-Off Mode
A dismal U.S. jobs report, rising geopolitical risks and recession worries triggered a broad crypto sell-off led by $BTC and $ETH $XRP
Bitcoin drops to $113,648 on August 2, 2025, as traders go risk-off
BTC slipped nearly 2% in 24 hours following weak U.S. jobs data and geopolitical escalation.
What to know:
- The July U.S. jobs report showed just 73,000 jobs added and a 258,000 downward revision to May and June.
- President Trump accused the U.S. Bureau of Labor Statistics commissioner of manipulating jobs data and said he had ordered her immediate removal.
- Although Fed rate cuts now appear more likely, they’re seen as a response to economic weakness, not a bullish signal.