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Home›Crypto›Bitcoin›Bitcoin tops $65,000 after US jobs miss

Bitcoin tops $65,000 after US jobs miss

U.S. payrolls fell by 23,000 in July versus an 80,000 forecast, shifting expectations to reduce the odds of a September Fed rate hike.

Reported · Written up by our desk · Bitcoin

Bitcoin rose above $65,000 following a U.S. jobs report that came in weaker than forecast, according to The Block.

The outlet cited payrolls falling 23,000 in July compared with an 80,000 estimate.

After the data release, traders moved to price out a potential September Federal Reserve rate hike, helping support the move in bitcoin prices.

The Block described the reaction as driven by what it called a massive surprise in the labor-market numbers.

Latest closeBitcoin $64,975.37 ▲1.1%

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Sources

The BlockBitcoin tops $65,000 after ‘massive surprise’ US jobs miss

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