Non-agricultural employment doping to Bitcoin
After the non-agricultural employment data announced in the USA, Bitcoin exceeded the level of 61 thousand dollars.
The rise in Bitcoin accelerated after the non-agricultural employment data announced in the USA.
Non-agricultural employment in the USA increased by 175 thousand people in April, against the expectation of 240 thousand, and was below expectations. After the data was announced, the interest rate cut expectation started to be priced as September with a 50 percent probability.
With the expectations, which were previously priced as November, being brought forward by 2 months, the increase in risk appetite had a positive impact on the crypto markets.
Bitcoin, which exceeded 60 thousand dollars with the announcement of the data, later expanded its gains and reached over 61 thousand 500 dollars.
Etherium, the second largest crypto asset after Bitcoin, is trading above 3 thousand dollars again after the data was announced.
Crypto asset prices, which had previously risen with the entry into ETFs, had brought Bitcoin to a record level of almost 74 thousand dollars in March. However, the demand for risky assets dropped by 14 percent in April as the Fed’s interest rate cut expectations were postponed.