Cardano (ADA) and Dogecoin (DOGE) Continue to Decline Ahead of US Non-Farm Payrolls Data! Here are the Details

Cardano (ADA) and Dogecoin (DOGE), among other major altcoins, dropped 4% in the last 24 hours ahead of the eagerly anticipated US Non-Farm Payrolls (NFP) report.

Bitcoin Investors Cardano (ADA) and Dogecoin (DOGE) Fell by 4% While Waiting for US Payroll Data

Bitcoin (BTC) is down 1.7% to trade at $97,800 today.

Singapore-based QCP Capital noted that Bitcoin failed to reclaim the $99,000 resistance level overnight, triggering a market-wide sell-off that pushed BTC to a new daily low of $95,600.

• While Ethereum (ETH) dropped by %2, XRP showed a relative flexibility by only dropping %1.1.
• After investment firm VanEck's forecast of a $520 price target for SOL by the end of 2025, Solana (SOL) managed to change the trend by rising 0.2%.

The upcoming US payroll report can have a significant impact on risk assets, including Bitcoin:

• Stronger-than-expected job growth could raise inflation fears, leading to the prospect of higher interest rates, which could put pressure on crypto prices.
• On the other hand, weaker-than-expected data may indicate an economic slowdown and if the markets expect lower interest rates from the Federal Reserve, it could potentially boost Bitcoin.

In a note sent by BTSE COO Jeff Mei, it has been a volatile week with China demonstrating its ability to respond to new tariff policies.

He also pointed out that the Trump administration's potential tariffs on the EU could continue to add uncertainty to global markets.

Bitcoin's reaction to the NFP report will be closely watched, as shifts in risk sentiment, dollar strength, and liquidity conditions could drive the next big move in the crypto market.

Data will be released today at 16:30. You can follow our website to track the data and instantly learn its impact on the market.