Trump cracks down on fraudulent data – USDX drops sharply, crypto market benefits significantly

The global financial market is experiencing strong fluctuations as President Trump ordered the firing of Labor Statistics Bureau chief – Ms. Erika McEntarfer – due to allegations of employment data fraud during the pre-election period. $TRUMP claims the data was inflated to serve the political interests of Kamala Harris.

The latest report confirms a serious discrepancy as the actual number of new jobs reached only 73,000, while the figures from two months prior were revised down by more than 258,000 jobs. The President also criticized the Fed for lowering interest rates twice before the election and demanded the replacement of Chairman Jerome Powell due to a slow response to actual conditions.

Notably, the US dollar strength index (#USDX ) dropped to 98.64 last weekend, significantly lower than 110.15 at the beginning of January, according to data from #NEOTECH . This reflects a pronounced weakening of the USD, thereby driving capital into alternative assets like Bitcoin and crypto.

📈 Positive impact on the crypto market: In the context of waning confidence in US economic data and a weakening USD, investors are turning to decentralized assets to hedge against risks. Bitcoin, Ethereum, and many major altcoins are maintaining a stable upward trend, indicating that confidence is returning to the cryptocurrency market. This could be the beginning signal for a new growth cycle of crypto. #anhbacong