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Jobs Data Jolt Sends Bitcoin Price Soaring

Guavy AI Editorial Team
Instruments
BTC
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Recent weak June jobs data had an unexpected effect on Bitcoin's price, lifting it to $62,000. The question now is whether Friday's employment report will send BTC tumbling back down.

The jobs numbers were weaker than expected, with only 150,000 new positions added in June compared to the estimated 700,000. This data point was seen as a positive factor for Bitcoin's price, which rose by nearly $5,000 on Tuesday and Wednesday.

However, not everyone is convinced that this trend will continue. Some analysts believe that Friday's employment report may reverse the upward momentum of Bitcoin's price, especially if the numbers show significant growth in new jobs.

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