On August 5, 2024, the cryptocurrency market experienced a major crash that affected both Bitcoin and other major cryptocurrencies. The main reason for this drop is due to the deterioration of economic data from the United States, which caused panic in global financial markets. Data released on August 2 showed weak employment growth and an increase in the unemployment rate in the United States, which increased fears of a recession. This led to a decrease in stock prices and a drop in Treasury yields, which negatively affected the crypto market. An additional factor was the situation in Japan, where the Nikkei 225 stock index fell by more than 10%, which was the largest crash since 1987. Together, these events provoked a sharp decline in investor confidence, which led to significant losses in the crypto market.