Ethan稳赚百亿
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Last night, with the release of the U.S. non-farm payroll data, the cryptocurrency market experienced a severe turbulence. The performance of this non-farm data was vastly different from market expectations, becoming the trigger for the sudden change in the cryptocurrency market.
Data shows that in July, the non-farm payroll added only 73,000 jobs, far below the expected 110,000, and the data for May and June was significantly revised down, with a total downward adjustment of 258,000 jobs over the two months, and the unemployment rate also rose to 4.2%. This unexpectedly poor data caused ripples in the financial market. The cryptocurrency market, which is closely linked to macroeconomic data, naturally could not escape.
After the data was released, Bitcoin's price quickly fluctuated, briefly falling below the key support level of $115,000, and dropping to around $114,000, with a 24-hour decline of 2.3%. Ethereum also could not remain unscathed, sliding from its high, hitting a low of $3,583, with a 24-hour drop of 2.8%. Other major cryptocurrencies followed suit in their declines, causing a significant shrinkage in the overall market capitalization of the cryptocurrency sector.
From the market's reaction, investors exhibited clear panic over this data. As non-farm data is viewed as an important barometer of the U.S. economy, such weak data has raised concerns about the future economic direction, prompting investors to seek refuge by selling off their cryptocurrency assets in favor of safer assets like gold and the U.S. dollar. Additionally, the unexpected nature of the data has altered market expectations regarding the Federal Reserve's monetary policy, further exacerbating the price drop in the already sensitive cryptocurrency market under this uncertainty.
The drop in the cryptocurrency market triggered by this non-farm data has made many investors acutely aware of the high risks and uncertainties in the crypto market. In the future, with the continuous changes in the global economic situation and ongoing adjustments in regulatory policies, the trend of the cryptocurrency market will remain full of variables.
Data shows that in July, the non-farm payroll added only 73,000 jobs, far below the expected 110,000, and the data for May and June was significantly revised down, with a total downward adjustment of 258,000 jobs over the two months, and the unemployment rate also rose to 4.2%. This unexpectedly poor data caused ripples in the financial market. The cryptocurrency market, which is closely linked to macroeconomic data, naturally could not escape.
After the data was released, Bitcoin's price quickly fluctuated, briefly falling below the key support level of $115,000, and dropping to around $114,000, with a 24-hour decline of 2.3%. Ethereum also could not remain unscathed, sliding from its high, hitting a low of $3,583, with a 24-hour drop of 2.8%. Other major cryptocurrencies followed suit in their declines, causing a significant shrinkage in the overall market capitalization of the cryptocurrency sector.
From the market's reaction, investors exhibited clear panic over this data. As non-farm data is viewed as an important barometer of the U.S. economy, such weak data has raised concerns about the future economic direction, prompting investors to seek refuge by selling off their cryptocurrency assets in favor of safer assets like gold and the U.S. dollar. Additionally, the unexpected nature of the data has altered market expectations regarding the Federal Reserve's monetary policy, further exacerbating the price drop in the already sensitive cryptocurrency market under this uncertainty.
The drop in the cryptocurrency market triggered by this non-farm data has made many investors acutely aware of the high risks and uncertainties in the crypto market. In the future, with the continuous changes in the global economic situation and ongoing adjustments in regulatory policies, the trend of the cryptocurrency market will remain full of variables.
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