Crypto markets faced significant turmoil as liquidations exceeded $1 billion following Bitcoin's drop below $50,000. High unemployment rates in the U.S. have intensified global recession concerns. Analysts suggest the Federal Reserve may delay interest rate cuts, adding further uncertainty to the financial markets.
This economic instability has directly impacted the cryptocurrency market, causing widespread sell-offs and heightened volatility. Investors are closely monitoring both the unemployment trends and the Fed's potential policy responses as they navigate this volatile environment.
