The decline of Bitcoin continues, with BTC falling below $112,000 this morning. Ethereum also dipped to a low of $3,355, and Bitcoin spot ETF recorded the largest net outflow in half a year on the 1st. (Background: False prosperity? U.S. non-farm employment in July far below expectations, with May and June revised down by 258,000. Trump criticizes Powell and fires the labor secretary.) (Supplementary background: After Wall Street polluted Bitcoin, '1BTC≠1btc', why are native Bitcoins the next holy grail?) The U.S. non-farm payroll numbers released on Friday ignited market fears of an economic recession, with May revised from 144,000 to 19,000 and June from 147,000 to 14,000. The unusual degree of revision led both stock and cryptocurrency markets to face selling pressure. Bitcoin (BTC) fell below $112,000 this morning (3) and hit a low of around $111,903 around 8:30, temporarily rebounding to $113,430 at the time of writing, with a nearly 24-hour decline of 0.45%. As the second-largest cryptocurrency, Ethereum experienced an even sharper decline, dropping to a low of $3,355 this morning, the lowest in two weeks. At the time of writing, it was temporarily at $3,440, with a nearly 24-hour decline of 2.3%. CMC data indicates that the cryptocurrency fear and greed index fell below 50 for the first time in the past month, indicating a decrease in market enthusiasm. The net outflow of Bitcoin spot ETF reached a six-month high, and Ethereum's record of continuous inflows was broken, reflecting the market exit. The flow of Bitcoin and Ethereum spot ETFs in the U.S. also hints at panic. According to Sosovalue data, U.S. Bitcoin ETFs experienced a net outflow of $810 million on August 1, marking the highest record in nearly six months. Ethereum also saw its nearly month-long record of continuous net inflows broken, recording an outflow of $150 million on the 1st. Total liquidation across the network reached $390 million. According to Coinglass data, in the past 24 hours, impacted by the market decline, a total of 118,000 people were liquidated, with the total liquidation amount reaching $390 million. Related reports: After Wall Street polluted Bitcoin, '1BTC≠1btc', why are native Bitcoins the next holy grail? Bitcoin reserve companies: Why spend $2 to buy $1 of BTC? Will the $10 billion selling pressure shake Bitcoin? Is BTC's next target to surge to $140,000?" This article was first published on BlockTempo (the most influential blockchain news media).

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