{"id":40045,"date":"2025-08-01T19:02:08","date_gmt":"2025-08-01T19:02:08","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=40045"},"modified":"2025-08-01T19:02:08","modified_gmt":"2025-08-01T19:02:08","slug":"crypto-carnage-continues-even-as-gold-bonds-surge-on-soft-u-s-jobs-data","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=40045","title":{"rendered":"Crypto Carnage Continues Even as Gold, Bonds Surge on Soft U.S. Jobs Data"},"content":{"rendered":"
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Soft U.S. July jobs numbers <\/a>released Friday morning combined with shocking revisions lower to June and May prints to produce the weakest three-month period of employment growth since the Covid shutdowns of 2020.<\/p>\n

The data seems likely to put an end to the wait-and-see approach of Federal Reserve Chairman Jerome Powell and set the central bank on a path to restarting rate cuts at its next meeting in September.<\/p>\n

That’s sent the yield on the 10-year U.S. Treasury bond plunging 14 basis points to 4.22% and the price of gold pumping 1.5% to $3,400 per ounce and back within sight of its record high.<\/p>\n

Whither two other interest-rate sensitive assets: bitcoin and stocks? Not so much. With about 90 minutes to go in the U.S. trading session, both are at session lows, with the Nasdaq plunging 2.5% and bitcoin down more than 3% to $113,800.<\/p>\n

And bitcoin’s an outperformer. Ether (ETH), solana (SOL) BNB (BNB), and dogecoin (DOGE) are all down about 6%. Notably holding its own is XRP (XPR), off just 2.9%.<\/p>\n

The president weighs in<\/h5>\n

“Jerome ‘Too Late’ Powell is a disaster,” said President Trump on Truth Social shortly after the jobs report. “DROP THE RATE.”<\/p>\n

Minutes ago, the president again took to his social media platform to call for<\/a> the firing of Dr. Erika McEntarfer, the Commission of Labor Statstics (the group overseeing the jobs data), accusing her of cooking the books to boost Biden\/Harris last year and make things look worse under his administration.<\/p>\n

Checking equities<\/h5>\n

As for crypto-related stocks, don’t ask. Coinbase (COIN) has plunged nearly 18% as the day’s risk-off mood combined with a punk earnings report Thursday evening. Tradfi-related peer Robinhood (HOOD) is lower by only 3.1%. <\/p>\n

Also reporting last night was bitcoin miner Riot Platforms (RIOT) and it’s tumbling 17%. Peer MARA Holdings (MARA) is down 3%.<\/p>\n

High-flying stablecoin issuer Circle (CRCL) is off 7.5%, as is bitcoin treasury leader Strategy (MSTR).<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Soft U.S. July jobs numbers released Friday morning combined with shocking revisions lower to June and May prints to produce the weakest three-month period of employment growth since the Covid shutdowns of 2020. The data seems likely to put an end to the wait-and-see approach of Federal Reserve Chairman Jerome Powell and set the central […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-40045","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/40045","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=40045"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/40045\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=40045"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=40045"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=40045"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}