Bitcoin Plunges Under $54K As Weak US Jobs Data Shakes Markets

Quick Summary:

Bitcoin fell below $54,000 on September 6, 2024, after cruising earlier in the day to $57,000 following the US nonfarm payrolls.

The report showed that the economy added only 142,000 jobs in August, which was much below expectations and threw the crypto market into volatility.

A smaller cut would be more favorable to risk assets, since a 50bp cut could suggest the Fed is getting worried about a recession in the US economy.

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Article Details

Author / Journalist: Christian Encila

Category: Crypto

Markets: Hungary

Topics: Bitcoin Digital currency Crypto Bitcoin Btc Crypto News

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-08 @ 02:00:53 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 442 words

Reading Time: 3 minutes read

Sentences: 35 lines

Sentence Length: 13 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 22401566

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About Bitcoinist

Main Topics: Crypto

Official Website: bitcoinist.com

Update Frequency: 12 posts per day

Year Established: 2014

Headquarters: Hungary

News Last Updated: 8 hours ago

Coverage Areas: Hungary

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #105

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