• 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

BNY Partners with Finstreet and ADI Foundation for Digital Asset Custody in Abu Dhabi

chest

BNY partners with Finstreet and ADI Foundation to establish regulated digital asset custody infrastructure in Abu Dhabi.

user avatarAndrew Smith

Chainlink's Major Holders Increase LINK Accumulation

chest

Chainlink's largest active holders have significantly increased their LINK holdings over the past month, indicating a potential tightening supply.

user avatarJacob Williams

Bitcoin Market Dynamics Shift as Institutional Investors Gain Influence

chest

A new analysis by top analyst Darkfost highlights the evolving dynamics of Bitcoin trading, emphasizing the impact of institutional investors on market behavior.

user avatarZainab Kamara

Fairshake PAC Holds $193 Million as It Influences Political Campaigns

chest

Fairshake PAC, a powerful political action committee in the crypto industry, holds $193 million to influence political campaigns, notably supporting Indiana Republican James Baird in his primary election.

user avatarSon Min-ho

BNB Consolidates as Market Tests Trend Continuation

chest

BNB is currently trading around 650, stabilizing after a sharp rejection from the 1,000-1,100 region, indicating a potential shift in market structure.

user avatarAyman Ben Youssef

Eric Trump anticipates that Bitcoin might hit $1 million.

chest

At Consensus Miami 2026, Eric Trump predicted that Bitcoin could reach $1 million, emphasizing the US's leadership in the cryptocurrency market and the growing acceptance of digital assets.

user avatarTando Nkube

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.