#CryptoMarketDip

The cryptocurrency market experienced a notable downturn today, with Bitcoin (BTC) dropping over 5% to approximately $96,503.Ethereum (ETH) also declined by more than 8%, trading around $3,351. This decline is largely attributed to stronger-than-expected U.S. labor market data, which has reduced the likelihood of imminent Federal Reserve interest rate cuts.Lower interest rates typically benefit risk-on assets like cryptocurrencies by increasing available investment capital and making bond yields less attractive.However, persistent inflation pressures suggest that rate cuts may be delayed, leading to investor concerns about potential economic instability.Other cryptocurrencies, including BNB, XRP, and Cardano (ADA), have also experienced declines, reflecting a broader market trend.