🚨 Breaking Crypto News: What’s Shaping the Market Today?

Author

CoinGape Media
March 07, 2025

News

February US job data by the Labor Department showed that the nonfarm payrolls increased by 151K in February, in line with the market expectations. On the other hand, the unemployment rate comes in at 4.1%, sparking market optimism over a potential rally in Bitcoin and altcoin prices. Notably, this data is widely considered by the US Federal Reserve to gauge the economic health and decide their rate cut plans.

Legal expert Jeremy Hogan has explained how Ripple could pay the $125 million penalty in its XRP lawsuit against the US SEC in XRP, with these coins then forming part of the US Digital Asset Stockpile. This comes just after US President Donald Trump signed an executive order creating the Strategic Bitcoin Reserve and Digital Asset Stockpile.

Markets

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) pulled back slightly on Friday as focus shifted to the US nonfarm payrolls (NFP) data and Donald Trump’s crypto summit. BTC price retreated 2%, while ETH and XRP fell by 4.2% and 1.32%. This retreat could fade if the US publishes weak NFP data, which will lead to more US dollar index sell-off.

Cryptocurrencies price is gaining renewed interest as analysts predict the cryptocurrency market could reach a $10 trillion valuation in the coming years. This bold forecast has fueled speculation among traders, with many anticipating Bitcoin to lead the charge. The timing of this projection aligns with an upcoming global crypto summit, adding momentum to market sentiment.