Crypto Prices Slip Ahead of US Jobs Data as Bessent Flags Rate Risks
Update: 2025-11-03
Description
Cryptocurrency prices dropped as investors braced for a U.S. jobs report, following Treasury Secretary Scott Bessent's warnings about the economy's strain under high interest rates. Bessent suggested the Federal Reserve could cut rates, but this uncertainty pushed most major tokens lower, with bitcoin's dominance growing. As American markets reopen, all eyes are on the upcoming jobs numbers, which could influence the Fed's rate cut decisions. On-chain data indicates weaker momentum for bitcoin, with prices struggling to surpass the short-term cost basis, raising the risk of a deeper pullback.
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