Both the crypto and stock markets are experiencing sharp declines, with Nvidia alone losing over $400 billion in market value this past week. Although recent U.S. job data reported 142,000 jobs added in August 2024, which signals continued employment growth, it fell short of expectations, reflecting signs of a cooling labor market. The unemployment rate dipped slightly to 4.2%, suggesting that while the labor market remains resilient, it is gradually softening . This uncertainty is adding pressure to fragile market sentiment as investors await the Fed’s decision on a potential interest rate cut in 11 days.
Analysts predict that Bitcoin may fall to $40,000 before rebounding to $100,000, while Ethereum could test its support level at $1,850. In this volatile environment, buying the dip and using Dollar-Cost Averaging (DCA) are considered prudent strategies. Staying updated on market developments, including how the Fed responds to labor market shifts, will be crucial for navigating the uncertainty ahead. DYOR and it is not financial advice.
