Bitcoin, Ether Trade Flat After Mildly Encouraging Jobs Data

Bitcoin and ether prices remained in tight ranges on Thursday amid low trading volume, and undisturbed by the Fed’s widely expected 25 basis point interest rate hike the previous day and the latest mildly encouraging data that suggests the hot jobs market might be weakening.

In comments Wednesday following the U.S. central bank’s decision to raise interest rates 25 basis points, Federal Reserve Chair Jerome Powell suggested that the “gradual cooling” of labor markets demonstrated the economy’s resilience and may foreshadow an economic soft landing instead of a much-feared recession.

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