BTC falls below the $121000 mark

The current total market value of cryptocurrencies is 4.15 trillion US dollars, with a 24-hour evaporation of 147.378 billion US dollars, a decline of 3.42%. Among them, the market value of Bitcoin accounts for 56.06%, and the market value of Ethereum accounts for 11.86%.

[U.S. Stock Market Cryptocurrency Concept Stocks Mostly Down] U.S. stock market cryptocurrency concept stocks collectively declined, with Circle and Figure dropping by 10%, Gemini and Bullish down over 8%, and Coinbase falling more than 7%.

OKX-BTC/USDT is currently trading at $116974.40, with a 5-minute drop of 0.22%. Please be aware of market fluctuations.

[Trump Administration Initiates Large-Scale Federal Employee Layoffs] According to Russell Vought, Director of the U.S. Office of Management and Budget, the Trump administration has begun implementing large-scale federal employee layoffs (RIFs). This year, the number of federal employees has already decreased by 200,000, and it is expected to decrease by another 100,000 before the end of the year. The scale of the layoffs and the specific affected departments have not yet been announced.

[Federal Reserve Overnight Reverse Repo Volume Drops to $4.124 Billion] The Federal Reserve's overnight reverse repurchase agreement (RRP) usage on Friday was $4.124 billion, marking a new low since April 2021, further declining from the previous trading day's $4.496 billion.