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US Jobs Report Disappoints: Bitcoin Price Soars Then Retreats

Guavy AI Editorial Team
Instruments
BTC
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The US Bureau of Labor Statistics released its latest jobs report, which showed that the economy added only 29,000 new non-farm payrolls in September. This is significantly lower than the expected 90,000.

The unemployment rate rose to 4.2%, also higher than anticipated. Month-over-month earnings are 0.1%, while year-over-year earnings increased by 3%.

BTC's price reacted immediately to the news, surging to over $87,250 before retracing slightly to around $87,000.

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