🧞U.S. surprises markets: 165,000 new jobs — why Bitcoin came under pressure
Strong U.S. labor market data heightened investors’ concerns about the Fed’s future policy. Against this backdrop, the cryptocurrency market faced a new wave of pressure, and Bitcoin fell to around $75,700.
The U.S. created significantly more jobs than expected
U.S. labor market statistics released on November 6, 2026, came in significantly stronger than analysts had forecast.
In October, the U.S. economy created 165,000 new jobs, while experts had expected just 65,000.
Other indicators also came in above forecasts:
The unemployment rate fell to 4.1%, compared with the expected 4.2%.
The number of new jobs in September was revised from 29,000 to 60,000.
Average hourly wages rose by 0.4% in October.
Thus, the U.S. labor market showed unexpected resilience despite concerns about an economic slowdown.
Why was good news bad for Bitcoin?
At first glance, a strong economy should support financial markets. However, the situation is more complicated for cryptocurrencies.
The more resilient the labor market and the higher wages are, the less reason the U.S. Federal Reserve has to ease monetary policy.
Investors fear that the Fed may keep interest rates high or even raise them in December.
High rates usually make dollar-denominated instruments more attractive, while risk assets, including Bitcoin and altcoins, come under additional pressure.
Bitcoin falls as liquidations exceed $1 billion
Amid macroeconomic uncertainty and sell-offs in technology stocks linked to artificial intelligence, the cryptocurrency market has faced increased selling pressure.
Bitcoin fell to around $75,700.
At the same time, large-scale forced position closures took place in the market: the total volume of liquidated cryptocurrency positions exceeded $1 billion.
These moves are especially painful for traders using leverage. A sharp price change can trigger automatic position closures and put additional pressure on the market.
What should we expect next?
Investors will now be focused on upcoming U.S. economic releases, especially inflation data.
If inflationary pressures remain high, the likelihood of the Fed maintaining a restrictive policy may increase. This could extend the pressure on Bitcoin and other cryptocurrencies.
However, if subsequent figures come in weaker than expected, the market may get a reason to recover.
The key takeaway: the cryptocurrency market today depends not only on news from within the industry. Fed decisions, employment data, inflation, and stock market sentiment can change the direction of Bitcoin's movement in a matter of hours.
For now, investors should keep a close eye on risks and remember that high volatility is especially dangerous when trading with leverage.🧞
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