Crypto prices plunge amid weak U.S. payrolls, Japan rate hike and Harris election odds: The Block

Crypto news outlet The Block has outlined several factors contributing to the recent downturn in cryptocurrency prices, including Bitcoin and Ethereum. The report highlights investor responses to various economic and political events. These include lower-than-expected U.S. nonfarm payroll figures, an interest rate increase by the Bank of Japan and the rising likelihood of U.S. Vice President Kamala Harris defeating the pro-crypto Donald Trump in the upcoming election. Market dynamics have also been influenced by Jump Crypto, the crypto trading arm of Jump Trading, which is reportedly preparing to liquidate hundreds of millions of dollars in crypto assets.