US Non-Farm Payroll Data Released: How Did Bitcoin (BTC) React?

• Bitcoin (BTC) experienced a surge following the announcement of the US non-farm payroll data for April, which fell below expectations at 175,000.
• The US unemployment rate was also announced above expectations at 3.9%.
• These figures could trigger a decrease in the value of the dollar, which could positively impact the cryptocurrency market.

Bitcoin surges as US non-farm payroll data falls below expectations. The cryptocurrency market could benefit from a potential decrease in the dollar’s value.

Bitcoin Responds to US Non-Farm Payroll Data

The US non-farm payroll data for April was announced recently, revealing a figure of 175,000, which was below the market expectation of 238,000. This announcement triggered a $1,200 rise in Bitcoin, marking the first time in five months that the non-farm payroll data has fallen below expectations.

US Unemployment Rate Above Expectations

In addition to the payroll data, the US unemployment rate was announced at 3.9%, above the expected 3.8%. Prior to the announcement, Bitcoin had dropped to $59,100, but surged to $60,330 following the news. Ethereum (ETH) also experienced a rise, ... Read the full article for FREE at COINOTAG!