Statistics reveal a challenging period for cryptocurrencies. Ether (ETH) has experienced a significant decline, losing 46% this quarter, marking its worst performance since 2018. The ether-to-bitcoin ratio has fallen to 0.02195, the lowest since May 2020. Bitcoin (BTC) is also struggling, trading just above $80,000. It has decreased by over 3% this month and 12% for the quarter, the worst since Q4 2022. Amidst this, global stock markets are also facing difficulties. Japan’s Nikkei 225 dropped 4%, entering correction territory after a more than 10% decline from its record high. European indexes like the FTSE 100, DAX, and CAC 40 opened lower, following the trend of falling U.S. stock futures. Economic indicators add to the uncertainty. The U.S. core PCE inflation rate rose higher than expected, causing U.S. equities to fall. Economists predict the unemployment rate will rise to 4.2%, with nonfarm payrolls expected at 128,000, down from 151,000 last month. Gold prices have surged past $3,100 per ounce for the first time, up 1.2% on the day and nearly 20% year-to-date, reflecting the market’s unease.
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