Bitcoin Price Reacts Immediately to Weaker-Than-Expected US Jobs Report
Bitcoin moved higher after a weaker-than-expected U.S. jobs report was released. One account said the payroll number came in far below expectations, while another said bitcoin rose from above $86,000 toward $87,250 after the report.
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Bitcoin traders, users, and market participants saw a quick price move after the September labor data came out. The report showed 29,000 jobs and 4.2% unemployment, and bitcoin moved from above $86,000 toward $87,250 soon after.
Before this release, the benchmark in the market had been the prior month’s jobs figure of 162,000, later revised to 133,000. What changes in practice is the labor backdrop used for trading and policy interpretation; the number itself is now lower than expected, while the rest of the market setup is not described here.
Market reaction
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