Bitcoin Price Wobbles at $76K – Jobs Done, CPI and Fed Next

The Bureau of Labor Statistics reported Friday that October payrolls rose 165,000, compared with 65,000 expected, while unemployment was little changed at 4.1% and average hourly earnings increased 0.4% to $38.00. Bitcoin traded around $75,800 shortly after the release; at 14:00 UTC it was $75,916, down $172, or 0.23%, after closing below its 100-day moving average on Thursday. August and September payrolls were revised up by a combined 84,000, and the October gain exceeded the prior 12-month average of 48,000. Steady hiring with pay still climbing gives the Federal Reserve less reason to cut and more room to keep policy tight, which can make holding a non-yielding asset such as Bitcoin relatively more costly.