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Nonfarm Payroll And Unemployment Data Slows, Bitcoin Recovery Ahead?
Breaking: Nonfarm Payroll And Unemployment Data Slows, Bitcoin Recovery Ahead? Bitcoin price saw rebound as traders buys the dip amid the slowing US nonfarm payrolls and unemployment data, increasing odds of Fed rate cuts. Mt. Gox beginning $10 billion in BTC and BCH repayments triggered a panic selloff causing Bitcoin price to briefly fall below $54,000 today. The latest nonfarm payrolls and unemployment data by the U.S. Bureau of Labor Statistics have brought a rebound in BTC price, as the jobs growth slows. It means the U.S. Federal Reserve has room for more rate cuts this year. Jobs Growth Slows In the US The US added 206k jobs in June against market estimates of 190k, declining from the 272k nonfarm payrolls added in May. Moreover, the unemployment rate increased to 4.1% against market expectations of 4%. Also, average hourly earnings for all employees on US private nonfarm payrolls increased by 0.3% to $35 in June, following a 0.4% increase in the prior month and
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