Bitcoin and XRP initially surged following the release of a mixed U.S. jobs report indicating slowed job growth despite a drop in unemployment to 4%. Bitcoin briefly rose above $100,000 but later fell to around $98,320, reflecting a 1% increase in the last 24 hours. Other cryptocurrencies also experienced similar volatility, with XRP jumping 7% over the day but down 19% over the week. The jobs report revealed robust wage growth, which may lead to increased consumer spending. With lower unemployment and strong wages, the Federal Reserve is less likely to reduce interest rates in the near term. The market had previously enjoyed a boost from interest rate cuts by the Fed, leading to better performance for cryptocurrencies and stocks. Increased tensions from tariff threats made by political figures have recently rattled crypto markets, contributing to the overall decline in the crypto market cap, which is now approximately $3.35 trillion.

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