US Non-Farm Employment Data Announced: Here is Bitcoin's First Reaction!
A slight decrease was observed in Bitcoin (BTC) after the US non-farm employment data for May was announced as 206 thousand, above expectations.
The US Non-Farm Employment data for June, which was recently announced as 114 thousand below the market's expectation of 185 thousand, triggered a decrease of approximately $ 400 in Bitcoin.
Additionally, the US unemployment rate was announced as 4.3%, above expectations of 4.1%.
Bitcoin, which rose to $64,800 before the announcement, fell to $64,700 and Ethereum (ETH) fell to $3,147.
The downward movement of data expressing the change in working people outside the agricultural industry in June will trigger a decrease in the value of the dollar. In this case, a decrease in the dollar index (DXY), which moves in reverse correlation with Bitcoin, will have a positive impact on the cryptocurrency market. However, this time, the data that exceeded expectations resulted in a decline in Bitcoin.
Following the announced data, the dollar index accelerated downwards and rose to 105.1 levels, but retreated sharply. In line with these data, it has become a matter of curiosity what kind of policy the US Federal Reserve (FED) will follow with the inflation data to be announced on the 12th of the month.
According to data, Bitcoin is traded at $ 64,270 at the time of writing.
Stay tuned for new information
