Coinbry

  • Market Cap: $2,348,918,288,675.35
  • 24h Vol: $273,558,629,858.87
  • BTC Dominance: 50.46%
US jobs data sparks Fed rate hike speculation, causing Bitcoin price to drop 2%

US jobs data sparks Fed rate hike speculation, causing Bitcoin price to drop 2%

Bitcoin briefly dropped to $27,000 due to unexpected non-farm payroll numbers, but quickly recovered. The volatility was caused by US employment data, which showed a jump in non-farm payrolls for September. This was seen as bad news for risk assets, including crypto. Traders are now anticipating a potential interest rate hike from the Federal Reserve in November. Bitcoin open interest has been declining, which could indicate more stability in the market. Overall, investors should conduct their own research and be aware of the risks involved in investing in cryptocurrencies.

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