The crypto market has been on a rollercoaster in recent months. The ups and downs have caused Bitcoin to fall back to 2017 levels. Bitcoin stayed near $23,000 in the past 24 hours after a report showing that the U.S. added more employment than expected last month reignited concerns that higher interest rates would dampen demand for riskier assets.
Bitcoin rally losses track after U.S. jobs report
Çalışma Bakanlığı reported that the United States economy added 528,000 jobs in July. The gains made early Friday in bitcoin (BTC) appeared to reverse after the reports. This is more than double the figure predicted by economists.
According to the report, the Federal Reserve is more likely to take action to control inflation, which has been marked at a four-decade high. The prices of risky assets like equities and cryptocurrencies tend to fall when the Fed takes a hawkish stance.
Source: https://www.cryptopolitan.com/bitcoin-falls-to-23k-on-u-s-jobs-report/