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U.S. Jobs Data Sparks Bitcoin Price Surge

The latest U.S. jobs data from the Bureau of Labor Statistics has positively impacted Bitcoin, with NonFarm Payrolls surging by 143,000 in January and the unemployment rate dropping to 4%.
Published on 2025-02-07

U.S. Jobs Data and Its Impact on Bitcoin

The U.S. jobs data for January, released by the Bureau of Labor Statistics, has sparked optimism in the Bitcoin market. NonFarm Payrolls (NFP), a key indicator of the U.S. labor market, showed a significant increase of 143,000 jobs. This data excludes farm workers, private household employees, and nonprofit employees, focusing on the broader economy.

The unemployment rate also improved, dropping from 4.1% to 4%. Job gains were notable in healthcare, social assistance, and retail trade sectors, while mining and oil and gas extraction saw declines. These figures have led to speculation about potential Federal Reserve rate cuts, though analysts believe such moves are unlikely in the near term.

Bitcoin's Price Reaction

Bitcoin has responded positively to the jobs data, surging past the $100,000 resistance level. As of the latest update, Bitcoin is trading at $100,153.92, reflecting a 1.88% increase in the last 24 hours. The cryptocurrency has rebounded from a recent low of $95,707.35, demonstrating strong upward momentum.

Trading volume has also seen a significant rise, increasing by 11.83% to $51.56 billion. This surge in investor activity highlights renewed confidence in Bitcoin as a store of value. Market observers are closely watching whether this bullish sentiment can sustain, potentially driving Bitcoin toward the $500,000 mark.

Overall, the positive jobs data has bolstered Bitcoin's outlook, signaling a potential shift in investor sentiment toward digital assets.

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