Bitcoin, Ether, and the broader altcoin market faced a decline following the release of U.S. employment data on June 7, which exceeded expectations. However, traders view this downturn as a temporary “shakeout” before the market resumes its upward trend. “Strong sell-off into support. Alts suffered more,” pseudonymous crypto trader il Capo of Crypto shared with their 848,000 followers on X on June 7. They described the situation as a “shakeout,” where many investors sell-off simultaneously due to market or economic uncertainty. The U.S. Employment Situation Summary Report revealed a higher-than-expected job increase, contradicting crypto analysts’ predictions that a weaker report
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