Bitcoin price taps $29.3K as data shows ‘most resilient’ US jobs market

📆 2023/08/04 19:31:00
📰 Cointelegraph

⏱ Reading Time:
10 sec. here
2 min. at publisher
📊 Quality Score:
News: 7%
Publisher: 51%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Blink and you'll miss it — BTC offers traders a glimmer of volatility on U.S. macro data.

U.S. jobless figures came in below expectations on the day, at 3.5% versus an estimated 3.6%, while the number of jobs added was less than forecast.“Despite the fastest rising rates of all time, the labor market remains strong,” financial commentary resource The Kobeissi LetterWhile U.S. stocks and Bitcoin managed to eke out modest gains as a result, the U.S. dollar felt the pressure in what could still aid a more pronounced BTC price rebound.U.S. Dollar Index 1-day chart.

For Michaël van de Poppe, founder and CEO of trading firm Eight, there was reason to believe that BTC/USD could improve into the next round of macroeconomic data releases.

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bitcoin, Ethereum Technical Analysis: BTC Consolidates Around $29,000 Ahead of Nonfarm Payrolls – Market Updates Bitcoin NewsBitcoin is trading near a support point of $29,000, ahead of today’s U.S. nonfarm payrolls (NFP) report. Ethereum was back in the red.
Source: BTCTN - 🏆 531. / 51 Read more »