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Bitcoin Price Hits $65,300 as Weak US Jobs Data Boosts
['Sabica Tahira']
TechJuice
Bitcoin climbed to a fresh August high above $65,000 on Friday as weaker-than-expected US employment data boosted expectations that the Federal Reserve may maintain or ease its current interest-rate stance.
Adding to the weakness, previous employment figures were revised lower.
The softer employment figures also supported broader risk assets.
For Bitcoin, expectations of easier financial conditions can be supportive because lower or stable interest rates generally improve liquidity conditions and investor appetite for risk assets.
With Bitcoin now testing the $65,000 level, traders are closely watching upcoming US economic data and Federal Reserve signals for further clues about the cryptocurrency’s next major move.