Bitcoin

<h2 id="quick-take">Quick Take</h2>
<p>New U.S. jobs data reveals intriguing market dynamics. The unemployment rate held steady at 3.8%, though the consensus estimate was a slight dip to 3.7%. The non-farm payrolls, a critical economic indicator, defied consensus estimates of 170,000, with the actual figure coming in at a more robust 336,000.</p>
<p>In response, the U.S. Dollar Index (DXY) and U.S. bond yields experienced an upward trend, underscored by a 2% rise in the yield of the 10-year U.S. Treasury note. This indicates a positive investor sentiment toward the U.S. economy, fueled by the stronger-than-expected jobs data.</p>
<p>Interestingly, Bitcoin’s reaction was less enthusiastic. The premier cryptocurrency noted a mild decline on the news, falling around 0.8%, suggesting that Bitcoin investors might interpret strong U.S. economic indicators as potentially leading to tighter monetary policy, which historically appears to dampen Bitcoin’s appeal.</p>
<p>The post <a rel="noopener noreferrer nofollow" href="https://cryptoslate.com/insights/stronger-than-expected-u-s-jobs-data-piques-dollar-and-bond-markets-leaves-bitcoin-underwhelmed/">Stronger-than-expected U.S. jobs data piques dollar and bond markets, leaves Bitcoin underwhelmed</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://cryptoslate.com">CryptoSlate</a>.</p>

Stronger-than-expected U.S. jobs data piques dollar and bond markets, leaves Bitcoin underwhelmed

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