Friday’s Market Meltdown: What Sent Bitcoin, Gold, and Wall Street Tumbling?

Friday was a brutal day across all financial markets, including crypto, despite the US releasing its strongest jobs report in a year and a half. Analysts at the Kobeissi Letter said the surprising labor data boosted tightening expectations and risk-off flows, explaining the sharp sell-off and near-term downside pressure on tokens, DeFi, DEX and CEX activity.