• 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

Bitcoin Hyper (HYPER) Introduces Speed to the Original Blockchain

chest

Bitcoin Hyper (HYPER) is recognized for its Layer2 scaling solution that enhances Bitcoin's transaction speeds.

user avatarNguyen Van Long

Tech Leaders Unite Against Proposed Wealth Tax in California

chest

A coalition of tech industry leaders opposes a proposed 5% tax on California's wealthiest residents, fearing it could drive them out of the state.

user avatarTando Nkube

Concerns Over California's Proposed Wealth Tax and Its Economic Impact

chest

Concerns about California's proposed wealth tax and its economic impact have led to discussions among tech leaders regarding potential adjustments to mitigate negative effects.

user avatarKofi Adjeman

Sui Builds High-Performance Blockchain Foundations

chest

Sui is gaining attention for its focus on performance, scalability, and efficient smart contract execution.

user avatarSatoshi Nakamura

XRP ETFs Achieve Record Trading Volume Despite Recent Outflows

chest

XRP ETFs in the US reached a record weekly trading volume of $219 million despite a net outflow of $408 million.

user avatarJesper Sørensen

Validator Competition Shapes Hyperliquid's Future

chest

The competition among validators is intensifying as major funds and centralized exchanges enter the network.

user avatarRajesh Kumar

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.