Crypto Markets On The Ropes As Traders Brace For US NFP Data

May 6, 2022
  • Crypto markets were crushed on Thursday, shedding over $150 million in value as US bond yields rallied.
  • Bitcoin dropped nearly 8.0% to fresh more than two-month lows in the $36,000s.
  • Traders are now bracing for the upcoming release of the April US jobs report.

Thursday’s Market Rout

Traders and strategists skeptical of Wednesday’s post-“not as hawkish as feared” Fed policy announcement rally across cryptocurrency markets and, more broadly, global risk assets, saw their cynicism pay off on Thursday.

Read the entire article here: https://finance.yahoo.com/news/crypto-markets-ropes-traders-brace-102813179.html

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