A decline was observed in Bitcoin (BTC) after the US December non-farm employment data was announced as 353 thousand, much higher than expectations.
In the past few minutes the market 173 thousand above expectation as 353 thousand US Nonfarm Payrolls data for December announced in Bitcoin $500 triggered the decline.
Also the US unemployment rate 3.8%below expectations as 3.7% announced. Before statement to $43,260 Bitcoin rising up to 100% with the statement $42,750up to Ethereum (ETH) $2,298It decreased by a small amount.
In line with the announced data, the dollar index is inversely correlated with Bitcoin. (DXY), It started in upward movements. In conclusion in Bitcoin also showed a decrease.
Data expressing the change in people working outside the agricultural industry in January dollar moving up worth rise will trigger.
In line with the release of labor force data and the recent statements of the FED, the possibility of reducing interest rates in March has gradually decreased. US Federal Reserve (FED) Chairman Jerome Powell had hinted that they would not rush to cut interest rates.
For this reason, expectations that the interest rate cut in March, priced in risk assets such as Bitcoin, will not come may cause some decrease It is estimated. Gold also decreased by 0.6% with the data for $2,059 decreased by .
The FED President’s speech in March that there would be no interest rate reduction also brought a decrease in the price.