• 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

2 years 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

Ethereum Faces Potential Third Consecutive Negative Quarter

chest

Ethereum is on track for a third consecutive negative quarter, raising concerns among traders despite strong staking signals.

user avatarArif Mukhtar

Glassnode Tracks Seller Exhaustion Constant for Market Insights

chest

Glassnode tracks the Seller Exhaustion Constant to analyze market trends and provide insights into seller behavior and market dynamics.

user avatarMaria Gutierrez

Gate Expands USDT Utility with Access to Hong Kong Stocks

chest

Gate has launched a new feature allowing users to access Hong Kong-listed stocks through USDT-powered accounts.

user avatarDavid Robinson

Uniswap's UNI Token Set for Massive Growth, Predicts Standard Chartered

chest

Standard Chartered's Geoff Kendrick predicts significant growth for Uniswap's native token, UNI, forecasting a price target of $100 by 2030 as Wall Street transitions to on-chain investments.

user avatarAndrew Smith

Stablecoins Make Their Mark in UFC Performance Bonuses

chest

Stablecoins have been used for UFC performance bonuses, showcasing their potential in public payments.

user avatarJacob Williams

Impact of Prediction Markets on Crypto Trading Culture

chest

Prediction markets are becoming increasingly relevant in the crypto trading culture, with potential implications for liquidity and market integration.

user avatarSon Min-ho

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.