Heaptalk, Jakarta — CoinMarketCap, a cryptocurrency price tracking platform, reported a significant decline in several crypto markets, including Bitcoin, Ethereum, Solana, and Dogecoin, on Thursday (07/04).
Bitcoin dropped 3.56% to $59,786.55 and is down 2.04% weekly. Ethereum is red, down 4.6% in the last 24 hours and 3.59% over the week. Solana plunged 11.31% daily and weakened 0.24% weekly. Dogecoin depreciated 7.34% over the previous 24 hours and slipped 5.85% over the past week.
The CoinDesk Market Index (CMI), which measures the market-cap-weighted performance of the digital asset market, fell 4.3% to 2,355.69. Open interest depreciated 7.16% to $58.99 billion.
Solana (SOL) remains sluggish. It weakened 2.92% in a day and 4.88% over the week. Currently, SOL is priced at Rp2.57 million per coin. XRP is still in the red zone, dropping 1.26% in 24 hours and 4.85% weekly. It is now priced at Rp8,032 per coin. Meanwhile, the Fear & Greed Index from the CoinMarketCap website shows a reading of 45, indicating that the market is in a neutral phase given the current economic and crypto industry conditions.
According to CoinMarketCap, this decline was triggered by a sell-off in the crypto market coinciding with the release of the US Employment Situation Summary Report, which revealed higher-than-expected job gains in May. CoinMarketCap explained that US employment data was mixed, with the unemployment rate rising to 4.0% despite an increase in the number of jobs added, primarily due to a rise in part-time workers.
“The US Bureau of Labor Statistics reported an increase of 272,000 jobs in May, while the unemployment rate increased by 0.1%. This mixed data contributes to a complex economic outlook, leading to uncertainty in the crypto market,” CoinMarketCap concluded.
