Bitcoin Hits Lowest Level in a Month Ahead of U.S. Jobs Report: Bitcoin plunged to its lowest level amid a broad selloff in high-risk investments
in global markets due to concerns about economic outlooks.

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Bitcoin Hits Lowest Level

China’s Service Sector Activity

Nvidia CEO

Bitcoin Hits Lowest Level in a Month Ahead of U.S. Jobs Report

Bitcoin fell to its lowest level in a month amid a broad selloff in high-risk investments
in global markets due to concerns about economic outlooks.
The largest digital asset dropped more than 4%
at one point on Wednesday before paring some losses to trade at $56,635.
Most other cryptocurrencies, including Ethereum, also suffered similar losses.

The decline comes as investors worry about signs of economic slowdown in the U.S. and China,
leading to the worst wave of global stock losses since the market crash on August 5.
This pessimism has extended to the crypto market,
where traders eagerly await the U.S. jobs report on Friday to see if a deeper economic slowdown is looming.

China’s Service Sector Grows Less Than Expected in August

According to a private survey, China’s service sector activity grew less than expected,
adding to concerns about the economy’s health.
The Caixin China General Services PMI, compiled by Caixin and S&P Global,

Fell to 51.6 in August from 52.1 in the previous month.
The median forecast of economists surveyed by Bloomberg was 51.8. Any reading above 50 indicates an expansion in activity.

These results add to the growing picture of an economy that could be at risk of slowing down.
Official data released over the weekend showed that service industries, from restaurants to tourism,
were close to contraction during the last month of summer.
The sector is a key focus of government efforts to revive consumer demand, impacted by the ongoing property crisis.

Nvidia CEO Loses $10 Billion of Wealth in One Day

Jensen Huang, CEO of Nvidia, experienced an unprecedented drop in his wealth after chip stocks tumbled.

A report revealed that the U.S. Department of Justice

had issued subpoenas to the tech giant as part of an escalating antitrust investigation.

Huang’s net worth fell by about $10 billion to $94.9 billion on Tuesday,
marking his most significant single-day loss since the Bloomberg Billionaires Index began tracking his fortune in 2016.
Huang’s wealth declined following a 9.5% drop in the shares of the chipmaker he co-founded.
A spokesperson for Nvidia declined to comment.

Bitcoin Hits Lowest Level in a Month Ahead of U.S. Jobs Report

Bitcoin Hits Lowest Level in a Month Ahead of U.S. Jobs Report

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