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market crypto
After the weak data release, $BTC dropped sharply from a high of $86,700 to around $84,000, and $ETH weakened in sync, with prices falling from the intraday high of $2,779 to around $2,648.
The market logic is that although the weak nonfarm data reduces the probability of a Fed rate hike in October (from 29% down to 17%), traders are more concerned about the economic outlook weakening, which suppresses corporate profits and risk appetite.
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