Why did the release of U.S. employment data showing 119,000 new jobs trigger a sell-off in Bitcoin?
Why is this the correct answer?
This is correct because when the labor market stays strong, the Federal Reserve is less likely to cut interest rates. Higher rates make risk assets like Bitcoin less attractive, so investors often sell when they expect monetary policy to remain tight.
AI-Generated Content Disclaimer
Important Notice: This content has been generated with the assistance of artificial intelligence. While we strive for accuracy, there may be errors or inaccuracies in the information provided. Please exercise caution and verify any information before making decisions based on it. This information does not constitute investment advice, financial advice, trading advice, or any other sort of advice. You should not treat any of the content as such. CryptoMeteo does not recommend that any cryptocurrency should be bought, sold, or held by you. Always conduct your own due diligence and consult with a financial advisor before making any investment decisions.