๐จ๐จ๐จ๐จ๐จ๐จ๐จ๐จ๐จ๐จ๐จ๐จ๐จ๐จ๐จ๐จ๐จ๐จ๐จ๐จ๐จ๐จ BREAKING: ๐บ๐ธ U.S. Job Report SHOCKS the World, DOUBLE Expectations ๐ณ
#Bitcoin Feels the Heat ๐ฅ
๐ฅJobs Added in September: The U.S. added 336,000 jobs in September.
This was a significant positive surprise as the expectation was only 170,000 jobs.
Additionally, August's job numbers were revised upwards from 187,000 to 227,000.
๐ฅ Unemployment Rate: It remained unchanged at 3.8%.
There was an expectation that it would drop slightly to 3.7%, but that didnโt happen.
๐ฅ #Bitcoin 's Movement: Following the job report, Bitcoin's price decreased by nearly 1%, dropping to $27,530.
However, Bitcoin had been doing relatively well recently, moving from around $26,000 to $27,700 before the report.
๐ฅSignificance of the Data: The job numbers are closely watched, especially now, as government bond prices have been falling.
The yield (interest rate) on the 10-year U.S. government bond has risen sharply recently, reaching as high as 4.80%.
๐ฅ Impact on Stock and Bond Markets: Over the past five weeks, the yield on the 10-year Treasury note increased sharply. It went from just above 4% to nearly 4.80%.
This rise affected the stock market negatively: both the Nasdaq and the S&P 500 saw a decline of roughly 6% since September 1.
After the jobs report was released, the stock market and bond prices continued to decline.
๐ฅPossibility of Interest Rate Hike: After the report, the probability of the U.S. Federal Reserve raising interest rates in their next meeting in November rose to 31%.
Before the jobs data, it was 24%. #cryptonews #CryptoTalks