• 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

BNB Chain Exceeds Solana in Tokenized Stock Trading Volume.

chest

BNB Chain has reached a tokenized stock trading volume of 52 billion, surpassing Solana in this market segment.

user avatarSatoshi Nakamura

Cardano Foundation Warns SPOs Against Passive Governance Abstention

chest

The Cardano Foundation warns Stake Pool Operators (SPOs) about the risks of automated abstention in governance, emphasizing the need for active participation to ensure effective governance during the Voltaire era.

user avatarJesper Sørensen

Arthur Hayes Questions Utility of Cardano and XRP

chest

Arthur Hayes questions the real-world transaction demand for Cardano and XRP, urging their communities to provide clearer evidence of utility.

user avatarRajesh Kumar

Analysts Predict XRP and BNB to Reach $100B Market Cap by Late 2026

chest

Analysts from Finbold predict XRP and BNB could reach a $100 billion market cap by late 2026, based on market developments and trader sentiment.

user avatarLucas Weissmann

Sharplink Acquires 10,000 ETH and Completes Share Buyback

chest

Sharplink has added 10,000 ETH to its treasury for around $16 million and completed a share buyback of over 21 million shares of SBET.

user avatarFilippo Romano

New Report Compiled Using SEC Data

chest

The report is based on information sourced from the SEC, providing accurate financial insights to stakeholders.

user avatarEmily Carter

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.