Cardano (ADA) and Dogecoin (DOGE) Continue to Fall Ahead of US Nonfarm Payrolls Data! Here Are the Details

Cardano and Dogecoin Drop 4% as Investors Await US Payrolls Data

Bitcoin (BTC) is currently trading at $97,800, registering a 1.7% decline. QCP Capital, a Singapore-based firm, observed that Bitcoin's failure to regain the $99,000 resistance level triggered a market-wide sell-off, leading to a daily low of $95,600.

While Ethereum (ETH) experienced a 2% drop, XRP displayed resilience with a modest 1.1% decline. Solana (SOL) bucked the trend with a 0.2% increase, following VanEck's projection of a $520 price target by 2025.

The upcoming US payrolls report is expected to significantly influence risk assets, including Bitcoin. Strong job growth could heighten inflation concerns, potentially resulting in higher interest rates and weighing on crypto prices. Conversely, weaker data may indicate economic slowdown and boost Bitcoin if markets anticipate lower rates from the Federal Reserve.

"The past week has been volatile, with China demonstrating its capacity to enforce new tariff policies," stated Jeff Mei, COO of BTSE. He added that the potential for tariffs on the EU by the Trump administration could further increase global market uncertainty.

Bitcoin's response to the NFP report will draw close scrutiny, as shifts in risk sentiment, dollar strength, and liquidity conditions could determine the next major move in the crypto market. The data will be released today at 16:30 and can be monitored for updates on its impact.

This information is not intended as investment advice.