🚀U.S. jobs report surprises.
U.S Job came in stronger than expected, with 177,000 new jobs added well above forecasts. The unemployment rate held steady at 4.2%, and wages ticked up 0.3% month-over-month. This signals a still-healthy labor market and may delay any hopes for Fed rate cuts.
Crypto markets reacted quickly. Bitcoin (BTC) briefly dipped to $92,500 after the news but has since bounced back to around $96,600. Ethereum (ETH) also slipped slightly, now hovering near $1,835.
🚩Why the drop?
Strong jobs data reduces the urgency for the Fed to loosen monetary policy. That means higher interest rates could stick around longer, keeping pressure on risk assets including crypto.
Still, the dip was modest, and both BTC and ETH remain within familiar ranges. As always, markets will keep a close eye on inflation data and Fed signals in the weeks ahead.
📊Bottom line:
U.S. economy is still running hot, and that’s cooling crypto momentum for now. But the rebound shows investors are still confident in the long-term crypto story.
Stay sharp and stay informed
