According to the source, shares of Coinbase COIN, Block SQ, and Robinhood HOOD fell about 11–14% this week as macro concerns, U.S. government shutdown jitters, and fallout from an estimated $19 billion October crypto liquidation rattled investor sentiment, source: the source. For traders, the source-reported drawdown highlights risk-off conditions in crypto-exposed equities and warrants close monitoring of liquidity, gap risk, and potential spillover into crypto market sentiment in the next sessions, source: the source.

According to the source, Alice Liu, Head of Research at CoinMarketCap, said all eyes are on Jerome Powell’s first public appearance since the September rate cuts, with weaker U.S. job data and a looming government shutdown prompting markets to watch closely for hints of another cut (source: Alice Liu, CoinMarketCap).