Bitcoin threatens breakout as US employment falls to 4.1%, jobs surge

U.S. Non-Farm Payrolls increased by 254,000 in September, affecting Bitcoin prices. The Department of Labor reported an addition of 254,000 jobs, surpassing the consensus estimate of 140,000. The unemployment rate decreased to 4.1%, below the expected 4.3%. This release indicates resilience in the US labor market despite broader economic concerns, suggesting potential implications for Federal Reserve monetary policy.

Bitcoin responded to the labor data with brief volatility. Initially priced at $61,400, Bitcoin declined to $61,200 following the report’s release, then climbed to $62,000 before stabilizing near $61,700. Market participants are likely assessing the labor report’s potential impact on dollar strength and interest rate expectations, both of which remain critical factors influencing digital asset markets.

The higher-than-expected employment figures may impact Federal Reserve policy decisions, potentially affecting asset markets, including Bitcoin.

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