Bitcoin jumps to $67,120 as US jobs data cools rate-cut hopes
Business
Bitcoin jumped to $67,120 on Thursday after new US jobs data showed 130,000 jobs were added in January and unemployment stayed at 4.3%.
This solid job growth cooled hopes for a quick Federal Reserve rate cut, keeping crypto traders on their toes.
A strong job market means the Fed is less likely
A strong job market means the Fed is less likely to lower interest rates soon—something that reduces expectations of an early rate cut.
Despite some coins like Bitcoin and Ethereum dipping slightly, others like BNB and Tron are up over 6%.
ETFs just saw $166 million in new inflows.
All eyes are now on Friday's inflation (CPI) report
All eyes are now on Friday's inflation (CPI) report.
If prices rise faster than expected, it could shape what the Fed does next—and where crypto heads from here.