$415.28 Millions Were Liquidated and 15 to 35% Most Crypto Discount In Price
On June 7, the U.S. Labor Department reported the addition of 272,000 jobs in May, far past estimates of just 185,000 and significantly higher than April's 165,000.
In May, the unemployment rate grew to 4.0% for the first time since January 2022, versus estimates for 3.9% and April's 3.9%.
This latest employment data reading has potentially pushed back the odds of the Federal Reserve lowering interest rates — a key prerequisite for a liquidity influx into risk assets and crypto.
After that in several hours later most of Crypto was suddenly correction from 15-35% in hours.
The Federal Open Market Committee (FOMC) is due to meet on June 12 to discuss rates, with markets now seeing little prospect of a cut resulting from the next two such meetings. So prepare caution on this meeting as its will made market more volatile.
