Bitcoin Holds Firm as US Jobs Data Unsettles Dollar
Bitcoin reached $40,000 following the release of US employment data which reduced market bets on interest rate cuts. The latest BTC price action was covered by Cointelegraph Markets Pro and TradingView as risk assets reacted to the latest US inflation cues. Nonfarm payrolls came in above expectations at 199,000 versus 190,000, while unemployment was lower than forecast at 3.7% versus 3.9%, suggesting that the full impact of Federal Reserve monetary tightening had yet to show itself. Despite decreased belief in lower interest rates coming sooner, Bitcoin managed to avoid a straight comedown and remained locked in a multi-day trading range.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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