From the time of writing, according to Coindesk data, BTC traded to around $ 113,648, dropped 1.4% over the last 24 hours. ETH, XRP, Sun and DOGE placed steeper Fall with ETH down 3.7% to $ 3,503, XRP OFF 1.5% to $ 2.94, sun down 2.7% to $ 164.13 and DOGE drops 3.7% to $ 0.1993.
The downturn followed a number of economic and geopolitical shocks on Friday, rattling investor mood across both equity and digital asset markets.
US shares also closed sharply on Friday, with Dow down 1.23%, S&P 500 OFF 1.6%, and NASDAQ follower stopped 2.24%when the traders digested a disappointing job report, increased tensions with Russia and the opportunity to be reduced with emergency situations.
The Julijob report was a disaster – and a surprise
US Bureau of Labor Statistics (BLS) Reported Friday that the US economy added only 73,000 jobs in July – well under expectations. More worrying, however, was a downward revision of 258,000 jobs for the total May and June Totals, which effectively deleted most of the Labor Market gains, previously reported for the second quarter.
Unemployment remained at 4.2%, but long -term unemployment rose by 179,000 to 1.8 million. The number of new participants for the job market jumped by 275,000, indicating that more Americans are looking for work but are struggling to find it. Workforce participation kept stable at 62.2%, while the relationship between employment and population crossed the year over the year.
Although job growth continued in health care and social assistance, employment across most major industries – including manufacturing, construction, financial services and tech – showed little to no change. Markets interpreted the data as a clear signal that the labor market weakens faster than expected.
Trump accuses BLS Commissioner of Electoral Interview, Orders Chief FIRED
President Trump responded quickly and publicly to the job report and sent a scary message of truth social, accusing the agency of Labor Statistics Commissions Erika McenCentarfer-A Biden-appointed-about to manipulate employment data in the 2024 election.
“This is the same Bureau of Labor Statistics that exaggerated the job growth in March 2024 by about 818,000 and then again, just before the presidential election in 2024,” Trump wrote. “This was items – no one can be so wrong?”
He added, “I immediately instructed my team to shoot this bit politically appointed.”
The post alerted investors who regarded rhetoric as a politicization of US statistical institutions. Removing a federal official responsible for financial data based on claims of electoral bias added to Friday’s volatility, especially for interest rates sensitive and risk-on assets such as Crypto.
Trump’s nuclear submarine post escalates Russia’s tensions
Later Friday, Trump again went to the Truth Social, this time revealed that he had ordered two US nuclear submarines to move in response to the recent comments of Dmitry Medvedev, the former Russian president and current deputy for Russia’s Security Council.
“Based on the very provocative statements of the former president of Russia … I have ordered two nuclear submarines to be placed in the relevant regions,” Trump wrote. “I hope this will not be one of these cases,” where words lead to “unintended consequences.”
The unexpected message – delivered without prior orientation or Pentagon -Confirmation – triggered concern that diplomatic tensions with Moscow had entered a new phase.
Some considered Trump’s language as a conscious attitude rather than a true military threat aimed at pushing Russian President Vladimir Putin to consider a ceasefire in Ukraine. Even if the statement was not intended for a signal of impending action, it still made the possibility of a nuclear confrontation in the US-Russia-public unlikely-feeling more real. Dealers – already rolled from Friday morning’s job report – respond by dumping risk assets in favor of safer bets such as Treasurys and Cash.
Fed -Rate -Ded Cutting expectations are rising -but so does us recession of us
Friday’s bleak working data led traders to dramatically increase efforts on a rate cut at the Federal Reserve’s September FOMC meeting, with many now expecting a reduction of 50 basic points. But the prospect of lighter monetary policy did little to reassure the markets.
This is because speed cutting cuts are no longer considered a preventative feature to increase growth – they are now seen as a reaction to economic weakness that may already unfold. In this context, monetary relief can be interpreted as confirmation of deteriorating conditions rather than a bullish catalyst.
For crypto markets that often reflect technical sector mood, the shift in the narrative weighs heavily. Despite the potential of lower real yields, fears of a threatening recession overshadowed any short -term optimism. Result: Widespread sales across the digital asset area and renewed caution in front of key acroate events later this month.
