Markets in Downfall With Massive Liquidity Outdraw

• Friday stock market closing depicted around $930 billion liquidity in total.
• The number of people unemployed or seeking jobs remains 3.5% lower than the projected rate.

The global market, both crypto, and the stock have trampled down post the U.S employment rate release. The current rate is alike to the one prior to the global covid pandemic. The number of people unemployed or seeking jobs remains 3.5% lower than the projected rate.

This drop rate is expected directly to hit the Federal Reserve making it to increase the interest rate during the upcoming November meeting. The number for interest rate hikes is also projected to be 0.75%. 

The Friday closing depicted around $930 billion in liquidity, and the S&P 500 closed 2.8% lower. Most analysts believe the Fed rates to rise to 4.25% or 4.5%, and will be continual in the first half of 2023.

Struggling Crypto Market

Even with major technological developments taking place in the cryptocurrency industry, the market is still falling down. Though the hype for different coins is still in phase, the growth of the same is not as predicted. The influence of different government institutions like the SEC, CFTC, and Fed is also very strong.  

As per CMC data, Bitcoin (BTC) instantly dropped from $20,020 to $19,626, and Ethereum (ETH) also hit a drop to $1,272. The whole market capitalization went below $862 Billion, with the 24 hrs trading volume of $51 Billion. The market capitalization fell 0.86% over the last day.

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