The cryptocurrency market experienced a significant downturn after starting the week positively, with many top digital assets experiencing double-digit declines. TRX is the only digital asset in the top 20 that increased, rising by 2.7%, while Toncoin rose by 8.9%.

Bản Tin Tiền Điện Tử Hàng Tuần: Bitcoin, Altcoins Chịu Tổn Thất Nặng Nề Khi Sự Kiện Kinh Tế Vĩ Mô Làm Rung Chuyển Thị Trường

Tariffs and job data caused the market decline

After starting the week brightly, the cryptocurrency market ended in the red, with many top digital assets by market capitalization experiencing double-digit declines. The reversal began after the Federal Open Market Committee (FOMC) voted to keep interest rates unchanged, challenging U.S. President Donald Trump, who had called for a 300 basis point cut.

Subsequent reports noted that the Trump administration imposed new tariffs on dozens of countries, causing a significant drop that led many digital assets to record deep losses within hours. Although most digital assets later recovered, the disappointing job data released by the Bureau of Labor Statistics (BLS) caused markets to worry on August 1st.

However, Trump's move to fire BLS Commissioner Erika McEntarfer right after the agency released job data ultimately contributed to the overall losses in the U.S. stock market that day, reaching $1.1 trillion. Data showed that the cryptocurrency market was also affected by these economic events, with market capitalization dropping from a weekly high of $4.024 trillion to $3.753 trillion, a decrease of about $270 billion.

Bitcoin (BTC), at one point dropping to $112,680, ended the week down nearly 4%, trading just above $113,300. Even Ethereum (ETH), which seemed to resist the rest of the market in recent weeks, also fell with a seven-day loss of 6.3%. XRP continued to struggle, down 8.2% after having dropped nearly double digits the previous week.

Other notable double-digit losses were recorded for Solana (SOL) at 12.6%, Dogecoin (DOGE) at 16.1%, and Cardano (ADA) at 13.7%. FARTCOIN and BONK are two prominent coins with significant losses, down 32.9% and 28%, respectively.

Meanwhile, Tron (TRX) is the only digital asset in the top 20 by market capitalization that recorded growth during this period, increasing by 2.7%. Toncoin is the next notable digital asset that recorded an increase, rising by 8.9%, while TROLL is the strongest coin with a 267% increase, followed by URANUS and LOKA, which increased by 165% and 153%, respectively.

#Binance #wendy #BTC $BTC