Bitcoin extends drop as stock futures point to further weakness

Bitcoin (BTC-USD) continues to plunge in Friday morning trading as stock market futures imply further weakness out of the gates. The global crypto market cap is dropping around 8% to $1.66T compared with its record high of $3T six months ago -- about the same time when bitcoin (BTC-USD) and ethereum (ETH-USD) peaked. Over the past 24 hours, the world's largest digital coin by market cap is sliding nearly 10% to $35.8K at the time of writing. Ether (ETH-USD) is tumbling almost 9% to $2.68K. Meanwhile, all three major stock market futures are extending losses from Thursday's selloff. Dow Futures (INDU) are off 0.5%, S&P Futures (SPX) -0.6%, Nasdaq Futures (NDX:IND) -1%, as investors await to see how many jobs have been added to the labor market in April. The non-farm payrolls report is expected to show the economy gained 391K jobs, a decline from 431K in March. Furthermore, the correlation between bitcoin (BTC-USD) and the tech-heavy Nasdaq recently