This week is crucial for both traditional markets and cryptocurrencies as the US labor market releases key updates that could impact the price of Bitcoin. With Bitcoin hovering near $107,500 and Ethereum struggling to hold above $4,400, this period carries significant weight. The total crypto market cap saw a 2% drop, pushing altcoins like XRP, Solana, Dogecoin, Cardano, Chainlink, and Sui into further declines. 2% decline in the total crypto market cap. 2% drop in the total crypto market cap, dragging these altcoin prices deeper into negative territory. The upcoming labor market releases promise a volatile week for both traditional markets and Bitcoin. 7.4 million job openings were expected for July as reported by JOLTS data, but the ADP private payrolls report on Thursday may provide an important clue for investors, highlighting potential volatility in both cryptocurrencies and traditional assets. A slowdown in hiring could boost crypto and increase hopes of the Fed easing monetary policy, while a strong report could push Bitcoin down further, particularly if this signals a recession. 2% drop in the total crypto market cap, dragging altcoins like XRP, Solana, Dogecoin, Cardano, Chainlink, and Sui deeper into negative territory.