• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Bitcoin Reacts to US Jobs Report and Declining Unemployment Rate

user avatar

by Giorgi Kostiuk

a year ago

  1. US Jobs Report for August
  2. Bitcoin's Reaction
  3. Federal Reserve Interest Rate Prospects


    4. The latest US jobs report for August fell short of expectations, drawing attention from economists and investors. While the unemployment rate slightly decreased, the number of new jobs was below the forecast.

    US Jobs Report for August

    The US Department of Labor announced the addition of 142,000 new jobs in August, which was below the anticipated 160,000. Data from July and June brought the three-month average down to 86,000, significantly lower compared to 202,000 in the same period last year.

    Bitcoin's Reaction

    Bitcoin's price reacted swiftly to the report, jumping from $55,500 to $57,000 within minutes. However, it has yet to sustain that level.

    Federal Reserve Interest Rate Prospects

    The US jobs report and the reduction in the unemployment rate to 4.2% suggest that the Federal Reserve is likely to cut interest rates in September. The expected cut is 25 basis points.

    The latest US jobs report has confirmed expectations regarding potential actions by the Federal Reserve to reduce interest rates. At the same time, Bitcoin's reaction to this information demonstrates its sensitivity to economic news from the world's largest economy.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

The Importance of the Travel Rule in Cryptocurrency Transactions

chest

The Travel Rule aims to reduce anonymous transfers between regulated cryptocurrency service providers by requiring identifying details about the sender and recipient to accompany certain transactions.

user avatarAisha Farooq

The Evolution of Blockchain AML Compliance

chest

Blockchain AML compliance is evolving to address the unique challenges posed by cryptocurrency transactions.

user avatarLi Weicheng

Legal Victory in NFT Space Boosts Crypto Market Sentiment

chest

The US government dropped its insider trading case against Nathaniel Chastain, improving sentiment in the crypto market.

user avatarTenzin Dorje

SUI Blockchain Claims Quantum Safety Advantage

chest

SUI Blockchain claims to have a quantum safety advantage by utilizing the EDDSA algorithm, which is better suited for quantum threats compared to ECDSA. The team has developed a one-click upgrade for existing SUI addresses to become quantum-safe. SUI has gained recognition from Google and the Greek stock market for its flexibility.

user avatarBayarjavkhlan Ganbaatar

Experts Warn of Offshore Capital Flight Due to Stablecoin Interest Ban

chest

Experts warn of potential capital flight to offshore financial centers due to the proposed ban on stablecoin interest payments.

user avatarMohamed Farouk

Farcaster Announces $180 Million Refund to Investors Amid Operational Continuity

chest

Farcaster, a decentralized social protocol, announced it will refund $180 million raised from venture backers while remaining operational with over 100,000 funded wallets.

user avatarElias Mukuru

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.