After the disappointing job reports last Friday, the Nasdaq fell by 2.43% and the S&P 500 dropped 1.84%. With equities entering a correction phase and recession fears looming, $BTC declined by 4.2%, now trading at $58,141, and $ETH dropped by 7.4%, now trading at $2,688.
The July payroll numbers were significantly lower than expected, with only 114,000 jobs added—far below the forecasted 175,000. This led to the unemployment rate soaring to 4.3%, the highest since October 2021.
In crypto-related news, Jump has redeemed wstETH into ETH and transferred it to a central exchange, the $JUP supply reduction proposal was approved, and $BTC's market dominance has reached 57%.
Over the last 24 hours, the top three gainers were $W, $BDX, and $MOG, while the biggest losers were $SATS, $TAO, and $ZRO.
