Major cryptocurrencies plunged on Thursday evening as investors eagerly awaitedcrucial jobs data, which could potentially influence the direction of interest rates.

What Happened: Weekly initial jobless claims for the week ending September 30 stood at 207,000, reflecting a marginal increase of 2,000 compared to the previous week. This figure was also close to the forecasted 210,000 by economists, according to a Dow Jones consensus estimate. While this uptick in jobless claims was in line with market expectations, it left some investors disappointed who were hoping for clearer signs of a labor market breakdown, potentially bringing an end to the rates that are negatively impacting stocks.