The US non-farm payrolls data, released on the first Friday of every month, came in well above expectations. This data exceeding expectations in bitcoin caused the withdrawal.
While an increase between 125 and 150 thousand people is expected in the non-farm employment data in the surveys, non-farm employment in the USA increased by 467 thousand in January.
The fact that the non-farm employment data is above expectations is considered as a signal of the economic recovery in that country and has a positive effect on the currency.
After all, we saw sharp upward movements in the dollar index and the US 10-year bond yields, after the non-farm employment data in the USA was much higher than the expectations.
While US 10-years climbed as high as 1.90%, DXY ‘was back above 95.5 level.
Bitcoin Withdrawn
With the increase in the trend towards the dollar, Bitcoin, which rose above the level of $ 38,000 during the day, fell to $ 37500.
Ethereum, which rose to $ 2870 during the day, continues to be traded at $ 2790.
US futures are currently trading in negative territory. It will be followed how the US stock markets will open after this data. A negative opening could cause us to see some more pullback in Bitcoin. Opening at 17.30.
*Not Investment Advice.