The cryptocurrency market is experiencing a turbulent day, with Bitcoin leading the decline. This sudden drop has put altcoins at risk, and investors are bracing themselves for further volatility.

The primary reason for Bitcoin's fall is the latest economic data, which has raised concerns about inflation and interest rates. The Fed's ability to control inflation will determine the direction of interest rates, and today's wage increase and Non-Farm Payroll report have disrupted expectations. As a result, Bitcoin has dropped by nearly $1300, and the probability of a rate cut in September has decreased significantly.

This downturn is likely to impact altcoins, with prices potentially reversing recent gains. Investors should exercise caution as the US markets open, as negative volatility is expected to continue in the coming hours. The crypto market is highly unpredictable, and only time will tell how this situation unfolds.

In conclusion, the cryptocurrency market is facing a challenging day, with Bitcoin's decline sparking concerns about the overall market's stability. As economic data continues to influence investor sentiment, it's essential for investors to remain vigilant and adapt to the changing landscape.