Key Highlights:
- Cardano (ADA) and Dogecoin (DOGE) saw a 4% decline over the last 24 hours, leading losses among major cryptocurrencies as traders anticipate U.S. payroll data.
- Ethereum (ETH) dropped by 2%, while XRP experienced a modest decline of 1.1%. In contrast, Solana (SOL) managed a slight increase of 0.2% as investment firm VanEck forecasts the token to reach $520 by the end of 2025.
Cardano (ADA) and Dogecoin (DOGE) dropped 4% over the last day, leading losses in major cryptocurrencies while traders await U.S. payroll data to position their investments. Bitcoin (BTC) was trading around $97,300 during the European morning on Friday, reflecting a 1.7% decrease in the last 24 hours. The broad CoinDesk 20 (CD20), a liquid index of major tokens by market capitalization, fell by 2.3%.
Quote: “Bitcoin failed to reclaim the $99K resistance level last night, triggering a broad selloff in the market and pushing BTC back to a new daily low of $95.6K,” noted Singapore-based QCP Capital through a Telegram broadcast. “With a three-day losing streak, the outlook for crypto remains uncertain.”
Additional market insights from traders indicate ongoing volatility, as Jeff Mei, COO at BTSE, mentioned, “It’s been a volatile week as China has proved that it can take measures against new tariff policies.” He further stated, “The wide range of tools at their disposal may influence upcoming market trends.”
The U.S. Non-Farm Payrolls (NFP) report will detail job creation, unemployment rates, and wage changes; all of which can significantly influence market expectations regarding the Federal Reserve’s interest rate policies.
Translation of Quote: “El precio de Bitcoin reacciona a estos datos a través de cambios en el sentimiento de riesgo, la liquidez y el valor del dólar.”
Market Summary: Positive payroll data could potentially uplift Bitcoin and the broader crypto market by encouraging a favorable risk sentiment.
