Crypto Stocks Dey Fall Because US Job Data Weak, Tariff Dem Dey Threat
Crypto stocks drop after US Bureau of Labor Statistics talk say only 73,000 new jobs for July instead of 100,000 wey dem expect. Weak nonfarm payrolls make market waka up and down and make people dey fear recession. US dey talk again say dem go add 10%–41% tariff for Chinese goods wey get new route, this one make investors no happy. Bitcoin fall below $115,000 from nearly $120,000, this one make pressure dey on crypto stocks wey follow BTC price.
Core PCE inflation still strong, e dey block Federal Reserve plan to cut rate. Futures markets still dey expect Federal Reserve go cut rate some times later this year, but the latest data say economy still get wahala. Expert Jeffrey Schulze for ClearBridge Investments talk say weak job growth plus tariff wey dey rise fit make labor market small again.
Traders suppose watch US nonfarm payrolls, tariff talks and Bitcoin price how e dey behave. If BTC steady over $120,000 fit help crypto stocks recover. But if labor market weak long time or tariff high, e fit still pressure risk assets.
Bearish
Di kombonshon wey weak US nonfarm payroll dem, fresh tariff threat dem, plus di persistent inflation wahala, don make pesin dem start dey fear risk for both equities plus digital assets. Di way Bitcoin drop under im key support for $115,000 e put heavy weight for crypto stocks, wey still dey closely related to how BTC dey perform. For short term, high volatility plus di kind economic wahala fit still dey put pressure for price dem. For long term, to change pesin dem mind to better, e go need say job growth go steady, tariffs go reduce, or Fed go show clear sign say dem go cut rate.