Crypto Turmoil and Triumph: Ether’s Plunge, Trump’s $105M Token Bet & Stripe’s New Blockchain (Sep 5–6, 2025)
Cryptocurrency prices saw sudden whiplash on Friday as macroeconomic news rattled traders. Early in the day, markets rallied on a soft U.S. jobs report – only 22,000 jobs added in August – which cemented bets that the Federal Reserve would finally cut interest rates coindesk.com. But euphoria was short-lived. Following the U.S. stock market open, crypto reversed course violently, led by a sharp plunge in Ethereum. Ether collapsed nearly 4% within minutes, falling below a key bull-trend support coindesk.com. Bitcoin proved slightly more resilient, dipping about 2.5% to ~$110K – still “slightly higher over the past day” despite the intraday drop coindesk.com. Solana and XRP similarly fell ~3–4%. Traders quickly recalibrated their outlook on Fed policy. Having already priced in a 0.25% rate cut for the upcoming Fed meeting, futures began assigning a 14% probability of a larger 0.50% cut coindesk.com coindesk.com. Lower interest rates tend to boost risk assets, but the intra-day reversal showed markets remain highly sensitive to broader sentiment shifts. U.S. equities gave up early gains, suggesting crypto’s slide was part of a wider risk-off turn coindesk.com. Gold, by contrast, touched a record $3,654/oz before settling up 0.9% as investors sought safety coindesk.com.