Latest US Non-Farm Payroll Data Revealed: How Did Bitcoin (BTC) Initially React?
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- The US Non-Agricultural Employment and Unemployment Data have been announced, and the leading cryptocurrency, Bitcoin, is attempting to recover from its sharp declines, approaching $60,000.
- Currently at around $59,000, some analysts are warning investors that the decline could continue.
- Factors such as the decline in spot Bitcoin ETFs and the decreased likelihood of a FED interest rate cut have influenced this decline, with all eyes on the economic data coming from the US today.
Bitcoin responds to US employment data, as the leading cryptocurrency shows signs of recovery amidst economic fluctuations.
Bitcoin’s Reaction to the Announced Data
The data announced every first Friday of the month is closely followed by investors and stakeholders to understand the state of the economy. The announced data is as follows:
Non-Agricultural Employment Data: Announced 175k – Expectation 238k – Previous 303k
