#cryptocurrency-market-downturn

#cryptocurrency-market-downturn

Bitcoin declined 7% to $69,000 following a weaker-than-expected jobs report that triggered sell-offs across risk assets, with the cryptocurrency down 46% from its October all-time high of $126,000.

Block CEO Jack Dorsey cited AI efficiency as justification for laying off 40% of employees, though weak crypto markets, overstaffing, and declining stock price likely contributed significantly to the decision.