Bitcoin continued its decline during Saturday's trading, August 3, after turning around during Friday's trading and losing its gains, amid broader selling operations in risky assets, after fears of an economic recession in the United States following the release of weak employment data for July.
Bitcoin lost more than $2,600, or about 4.3% of its value, during the last 24 hours of trading, falling below the $60,000 level.
The cryptocurrency thus recorded an increase of more than 12% during the last week’s trading, according to data from the CoinMarketCap platform.
The market value of issued cryptocurrency units fell to less than $1.2 trillion, recording about $1.183 trillion.
Risky assets have been widely sold off since Friday's trading after the jobs report issued by the US Department of Labor's Bureau of Labor Statistics revealed fewer jobs were created than expected in July, and the unemployment rate rose to its highest rate in nearly three years.
The data included the US economy adding 114,000 jobs in July, compared to expectations of 176,000, and compared to 179,000 in June.
The unemployment rate rose to 4.3% last month, the highest level since October 2021, compared to expectations that it would remain stable at 4.1%.
Japanese, European and American stock markets witnessed significant declines during Friday's trading, along with declines in oil prices and a number of other assets, amid fears that the US economy is approaching recession in light of the data issued.
The world's richest people suffered massive losses, amounting to about $134 billion in one day for the world's 500 richest people.
