Bitcoin also falls as investment market treads on thin ice amid fears of US economic slowdown

Bitcoin is falling further as the New York Stock Exchange treads on thin ice amid concerns about an economic downturn originating from the United States, News1 reported.
According to Bithumb, the price of Bitcoin on the 6th was down 0.56% to 764 as of 1:35 p.m. compared to the same time the previous day.
The previous day, Bitcoin had risen to the 79 million won (about 8.48 million yen) range and seemed to be breaking out of its downward trend, but the slowdown in employment indicators led to a rise in the U.S.
According to Automatic Data Processing (ADP), a U.S. employment information company, the number of U.S. private companies hiring in August was 1.2%.
The number of employees increased by 99,000 from the previous month. In particular, the increase in August was the smallest in three years and seven months since January 2021.
This was well below the forecast of 140,000 by experts, raising concerns that the U.S. economy is rapidly cooling down. This will hit global financial markets hard, and the stock market, which is one of the investment vehicles, will be affected.
This is also interpreted as having had an impact on Bitcoin investment sentiment. According to cryptocurrency data provider Alternative.me, the Crypto Fear and Greed Index for this day was up 1.2% from the previous day.
The crypto fear and greed index is now at the "extreme fear" stage, down 7 points. This is the worst sign of investor sentiment this month. The Crypto Fear and Greed Index is at 0, which means investor sentiment is at the "extreme fear" stage.
According to CryptoQuant, the net deposit and withdrawal volume of the exchange as of 2 p.m. on this day was higher than the average figure for the past seven days.
Generally, the net deposit/withdrawal volume is the amount of coins deposited in the exchange minus the amount withdrawn. In the case of spot exchanges, the higher the value, the higher the selling pressure of the coin. In the case of futures exchanges, the value fluctuates.
This is interpreted as an increased risk of heart failure.