Bitcoin and Ethereum down; Is now the time to buy?

have been under severe pressure since Friday's U.S. jobs data, which exceeded expectations, and dampened hopes for a Federal Reserve rate cut in September.

Non-farm payroll data on Friday showed that the U.S. economy added 272,000 jobs in May, significantly higher than the estimated 182,000 jobs, and much more than the downwardly revised reading of 165,000 jobs in April. While the unemployment rate rose to 4%, the average hourly earnings increased by 0.4% month-on-month, above the expectations of 0.3%.

The report stated:"The non-farm payroll report surprised us, as it was confusing enough to stimulate risk aversion ahead of U.S. inflation numbers and this week's Federal Reserve meeting."

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