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07 October, 2024

Crypto Market Sees $147 Million Outflow as US Jobs Data Boosts Economic Confidence

07 October, 2024

The cryptocurrency market experienced an outflow of $147 million last week, with Bitcoin leading the decline. This shift in investor sentiment comes amidst positive US jobs data, suggesting a robust economy and potentially delaying anticipated Federal Reserve rate cuts.

The strong jobs report has injected optimism into traditional markets, potentially diverting capital away from riskier assets like crypto. While the market remains volatile, this recent outflow highlights the sensitivity of cryptocurrency investments to broader economic trends and investor sentiment.