84%
Above 4.0%
▲ 2 pts in 24 h
- Above 4.0% 84%
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- Above 4.2% 10%
- Above 4.4% 2%
- Above 5.0% 1%
Above 4.0%, last 15 days
Bitcoin Price Reacts Immediately to Weaker-Than-Expected US Jobs Report
0Importance
closedStatus
2News media
- Published
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.
Key claims & sources
✓
The latest U.S. non-farm payroll release came in below the 90,000 jobs expected after the prior month’s figure had been 162,000, later revised to 133,000.
✓
The same report landed after last month’s stronger jobs print had set expectations for the new release.
✓
U.S. employers added 29,000 jobs in September, below the 90,000 expected, and unemployment rose to 4.2%.
✓
Bitcoin moved from above $86,000 toward $87,250 after the labor report was released.
What it means
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 i
Bitcoin fell 1.9% in the 4 hours after the first headline, after rising 0.6% in the 2 hours before.
$86,832
price at the headline
+0.6%
2 h before
-1.9%
4 h after
-2.6%
12 h after
First headline
49 prices, one every 30 minutes
Coverage timeline
Every piece in order, with the time its news medium declares — if it is not believable we use ours and say so — and what it added to what was already known at that point. Arriving first is not the same as adding something.
first
Oct 2 12:40
CP
CryptoPotato
scoop
Breaks the event
+3 h 39 m
Crypto Economy
context
Oct 2 16:19
Crypto Economy
context
Its angle: confirmation, accelerating, interpreted
What could happen next i
61%
Above 70,000
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- Above 80,000 31%
- Above 100,000 21%
Above 70,000, last 16 days