Bitcoin Drops as U.S. Payrolls Fall Short, Hotel Hiring Slows, but Ad Employment Reaches Record High
TL;DR Summary
Bitcoin's price has dropped by 2% to $34,235 ahead of the release of US nonfarm payrolls data, which could impact risk assets including cryptocurrencies. The data is expected to show a slowdown in job additions and a decrease in average hourly earnings growth. A better-than-expected jobs figure may challenge the belief that the Federal Reserve's tightening cycle has ended, potentially boosting the dollar and putting downward pressure on bitcoin.
Topics:business#bitcoin#cryptocurrency#federal-reserve#market-volatility#nonfarm-payrolls#us-economy
- Bitcoin Recedes to $34.2K Ahead of U.S. Nonfarm Payrolls Data CoinDesk
- U.S. payrolls increased by 150,000 in October, less than expected CNBC
- U.S. Hotels Are Still Adding Workers, But At a Slower Pace Skift Travel News
- News Wrap: Hiring slows in October but labor market shows signs of resiliency PBS NewsHour
- US ad employment is now at an all-time high Ad Age
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