🚨 Crypto Market Update 🚨
The crypto market experienced a significant dump recently, with $BTC dropping below $70,000 and $ETH falling to around $3,675. This drop was triggered by stronger-than-expected U.S. jobs data, which added 272,000 jobs in May, far exceeding predictions. This robust job growth suggests the economy is handling tighter fiscal policies better than anticipated, reducing the likelihood of the Federal Reserve lowering interest rates soon. This has led to a "risk-off" sentiment, where investors move away from riskier assets like cryptocurrencies.Additionally, over $380 million in crypto liquidations have intensified the market's downward pressure, with many leveraged positions being forced to sell, further driving prices down.
Stay informed and make wise investment decisions!