#BTC Bitcoin showed a slight decline amid the release of US unemployment data

— In May 2024, the unemployment rate in the United States rose to 4.0%.

—Against this background, the price of bitcoin showed a slight decline.

In May 2024, the unemployment rate in the United States rose to 4.0%, an increase of 0.1% compared to April. The total number of unemployed increased from 6.49 million to 6.6 million, this follows from the report of the Federal Bureau of Labor Statistics (BLS).

Bitcoin showed a slight decline after the release of this data. The price of the first cryptocurrency fell by about 1% in the last hour. At the moment, the rate of the asset fell to $70,620, but later the price recovered and is now around $71,400.

CoinDesk emphasized that after the BLS report, the chances of the US Federal Reserve lowering the interest rate increased. Before the release of the data, investors estimated the probability of such a move at about 55% during or before the September meeting.

Note that the Ethereum exchange rate also showed a minimal fall. In the moment, the price of the asset fell below the $3800 mark.

Recall, in April 2024, the unemployment rate in the United States rose to 3.9%. After the release of this data, bitcoin showed growth.