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Cryptocurrencies and stocks remained on edge after the U.S. released weak nonfarm payroll data, pointing to a potentially dovish Federal Reserve.
Bitcoin pulled back from around $72,500 to the $70,000 level while Ethereum is now down more than 3% over the past 24 hours to $2,500. The total market cap of all coins dropped to $2.45 trillion, while the crypto fear and greed index moved from the greed zone of 65 to 57.
American stock index futures responded positively, with the Dow Jones, S&P 500, and Nasdaq 100 indices gaining 230, 33, and 130 points, respectively.
According to the Bureau of Labor Statistics, the United States economy added only 12,000 jobs in October, a significant drop from the 223,000 added in September.
The bureau attributed the low job additions to recent hurricanes in the U.S. and strikes at major employers like Boeing. Manufacturing payrolls dropped by 46,000, while government payrolls rose by 40,000. 2 replies
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