Macro Weakness Weighs on Crypto Sentiment

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Fresh US economic data is rattling risk appetite. Job openings fell to 7.23 million in August, nearing a five-year low, while unemployment insurance claims are now twice as high as last year, according to the Economic Policy Institute.
Gold has jumped 16.7% in two months, while the US Dollar Index struggles to reclaim 98.5. This macro backdrop has dented optimism for multiple Fed rate cuts in 2025, triggering caution across digital asset markets. Last week saw $812 million in crypto outflows, reversing the nearly $2 billion inflows from late September.