Ether has broken a key bull market trendline, falling nearly 6% in a single session. Technical traders are watching closely to see if ETH can regain strength, or if this breakdown signals further pain ahead. The weak jobs data might accelerate Fed cuts, but will that help ETH?

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U.S. July jobs data came in far weaker than expected, sparking a sharp rally in gold and bonds — but crypto wasn’t spared. Bitcoin fell over 3% to $113,800, while Ether, Solana, BNB, and Dogecoin slid nearly 6%. Stocks also tumbled, with the Nasdaq down 2.5%.

Coinbase led crypto stocks lower with an 18% crash after a poor earnings report, followed by Riot Platforms (-17%), Circle (-7.5%), and Strategy (MSTR) down 7%.

Despite rising hopes for Fed rate cuts in September, crypto markets remained in risk-off mode. President Trump added more drama, slamming Jerome Powell and calling for immediate rate cuts.

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👉 Will crypto recover if the Fed cuts rates next month?

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