Bitcoin Falls Following Jobless Claims Data; Jupiter, FTX Token Among Top Losers
Portfolio Pulse from Avi Kapoor
Bitcoin and Ethereum experienced losses, trading below $43,000 and $2,300 respectively, following an increase in U.S. jobless claims. The global crypto market cap fell to $1.62 trillion, a 24-hour decline of 1%. Ronin was the top gainer, while Jupiter was the biggest loser among cryptocurrencies.
February 01, 2024 | 2:35 pm
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NEGATIVE IMPACT
Bitcoin fell below the $43,000 level, trading lower by 1% at $42,150 after U.S. jobless claims data was released.
The increase in U.S. jobless claims likely contributed to a decrease in investor confidence, leading to a drop in Bitcoin's price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Ethereum also saw a decrease, trading below the $2,300 mark at $2,267, a 1.2% drop following the jobless claims data.
The negative jobless claims data likely influenced Ethereum's price to drop as part of the broader crypto market decline.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
FTX Token saw a 23% drop in price over the past 24 hours, marking it as one of the top losers in the crypto market.
The significant drop in FTX Token's price reflects negative market sentiment or reactions to specific events affecting it.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 85
NEGATIVE IMPACT
Jupiter experienced a significant loss, dropping 61.4% in price, making it the biggest loser among cryptocurrencies.
Jupiter's steep price drop significantly impacts its market position, indicating a major sell-off or negative sentiment.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 95