World · Market · Global ·
Bitcoin tops $65,300 on softer US labor data and lower rate expectations
Bitcoin climbed above $65,300 to month-to-date highs as the US jobs report showed weakness, reducing bets on near-term Federal Reserve rate increases; Bitcoin ETFs posted their strongest weekly inflows since April at $853 million.
Why it matters for the crypto market
Macro-driven rally in risk assets including crypto; weak employment data shifts inflation and rate outlook, a primary driver of institutional capital flows into Bitcoin and crypto markets.
Source: Cointelegraph
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