Investors pull back from altcoins as market reacts to job data

This week, many altcoins saw significant losses, with Chainlink dropping nearly 16% and Uniswap declining by 15%. Aave experienced the largest fall, tumbling over 19%. Bitcoin Cash fell by 10%. Investors reacted to recent employment data showing an increase in job openings, which may discourage further interest rate cuts by the Federal Reserve. Higher rates typically make safer investments more appealing, reducing interest in cryptocurrencies. The market is now bracing for potential stability, with hopes that positive news could lead to a rebound in cryptocurrency values.