Due to the stable employment market and continued strength in the service sector as indicated by the data released in the US, traders expect the Fed to possibly postpone rate cuts until after June, intensifying the dumping of US bonds, causing a heavy blow to the stock market. Crypto assets experienced another fall, with Bitcoin falling to 97K, while Ethereum saw a big dump of 8%, resulting in a total of $540 million in liquidations across the network within 24 hours.