Bitcoin Holds Steady as Traders Eye Inflation Data
Bitcoin held above $65,000 in early trading on Friday, despite some volatility in the market. The cryptocurrency's price rose by about 0.5% to $65,191.4 as of 9:41 a.m., according to investing.com.
The latest jobs report from the US showed that employers unexpectedly cut 23,000 jobs in July, while an increase of about 80,000 had been expected. Employment figures for May and June were also revised downward by a combined 103,000, confirming signs of a cooling labor market. Despite this, the unemployment rate fell slightly to 4.1%.
Traders are now looking ahead to Wednesday's US consumer price index report, which may provide new clues about the Federal Reserve's future course. Inflation data has taken on particular significance due to sensitive energy prices in the Middle East.