Bitcoin Price Goes Wild Again as US Jobs Report Smashes Expectations

Bitcoin fell from $76,000 to $75,200 after the October US jobs report showed 165,000 jobs added, well above the roughly 59,000 expected, then recovered almost all of the decline. Unemployment dropped to 4.1%, below the 4.2% forecast, and September’s gain was revised up by 31,000. The strong data was treated as negative for risk-on assets because it suggested the Federal Reserve could keep tighter monetary policy without hurting the economy. A day earlier, Bitcoin had slid from $81,000 to a multi-month low of $75,100 before rebounding to $76,000.