Cryptocurrency News: Non-agricultural data downturn leads to market panic, digital currency affected
The market has plummeted recently. After the non-agricultural data was released, the expectation of interest rate cut in September soared to full positive, but it unexpectedly triggered the market downward vortex. The core reason is that the non-agricultural data was significantly lower than expected, and the economy was shrouded in gloom. Investors are worried that the Federal Reserve will not take action until September, and may miss the opportunity to save the market. Such uneasy emotions directly ignited the fuse of the collapse of the US stock market, and panic quickly spread to the field of digital currency. Bitcoin was the first to bear the brunt. Although the decline was controlled within 6%, it briefly pierced the important support of $59,800, and market confidence suffered a heavy blow.
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