World · Market · Global ·
Bitcoin rises to $65.3K as weak US jobs data cools rate hike bets
Bitcoin hit August highs above $65,300 after the US labor market unexpectedly shed 23,000 jobs in July, far below forecasts for 80,000 new jobs. The weak employment data reduced expectations of a Federal Reserve rate increase at its September meeting.
Why it matters for the crypto market
Labor market weakness directly shapes inflation and interest-rate expectations, which drive risk-asset demand including Bitcoin.
Source: cointelegraph.com
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