Bitcoin (BTC) got off to a strong start at the start of the week, surging $3,000 on Monday to hit $70,000 for the first time, which was remarkable. Behind this wave of gains, in addition to market movements, there was also former President Donald Trump's "crypto surprise" - he promised to fire SEC Chairman Gary Gensler on his first day in office at the Bitcoin 2024 Conference in Nashville. Trump's promise instantly ignited the market's enthusiasm!

However, the excitement did not last. Late on Monday, the price of Bitcoin fell by $4,000 and continued to fall over the weekend. 📉 In fact, Bitcoin fell to $62,200 on Friday night as the United States released its July jobs report.

Employment report highlights: The unemployment rate soared to 4.3%, the highest level since October 2021. This economic data caused a shock in the market, and not only Wall Street reacted quickly, but the crypto market was not immune.

Weekend trading: As Bitcoin and other altcoins can be traded around the clock, prices continue to fall. Bitcoin fell to a three-week low of less than $60,000, losing more than $10,000 in a week.