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This is a historical market review. Read prices and views in their original context; they are not current market data or forecasts of returns.
US employment data and market concerns
The US employment report cited at the time put unemployment at 4.3%, the highest since October 2021. After 179,000 new jobs in June, July non-farm payrolls were only 114,000, below economists' forecast of 175,000. This raised recession concerns against a backdrop of the highest rates in 22 years.
Global market volatility
Global equities fell again on Friday for a second consecutive day as concerns grew. The Dow lost 600 points, the Nasdaq fell 2.4%, and the S&P 500 was 6% below its recent record. After peaking just above $70,000 on 29 July, Bitcoin fell to $49,000 on Monday. Total crypto market value fell 13% over 24 hours.
A historical correction is not necessarily a buying opportunity
Corrections can persist and coincide with liquidity problems or sharp price changes. Past losses, presale deadlines and contract audits cannot guarantee appreciation or asset safety. Bitcoin's information before using Bitcoin also warns about volatility, wallet custody and transfer risks.
