NFP Revision Dem Trigger Risk-Off: Coinbase Miss & $1B Crypto Outflows
After di U.S. NFP report show di biggest negative two-month revision since di pandemic, equity dem fall, yield dem dive, an di crypto market enter risk-off mode. Coinbase Q2 earnings miss estimates at $1.5 B, cause $1 B crypto outflows, wit Bitcoin (BTC) drop to $112 K in di middle of heavy long liquidations. Ethereum (ETH) get $152 M outflow, mark serious sell-off. Despite deeper liquidity from institutional adoption, crypto outflows make market more volatile. Traders dey face uncertainty as Fed rate-cut bets rise an tariff tensions increase. Di ongoing jittery conditions mean say choppy trading go continue.
Bearish
Negative U.S. labor revisions dem plus one disappointing Q2 Coinbase earnings report don trigger wide risk-off wahala. Di biggest two-month NFP data revision wey happen since COVID, join with Fed rate-cut expectations and rising tariff tension, cause equities plus yields dem to fall, while crypto outflows don exceed $1 billion. Bitcoin suffer one of im worst single-day liquidations since May, plus Ethereum break im monthly winning streak wit $152 million outflow. History show say heavy liquidation fit make short-term decline quick, meaning crypto traders fit face bearish market. Even though deeper institutional liquidity fit reduce extreme waka waka, traders suppose prepare for more wahala as macro uncertainty dey and Fed policy still dey focus.