Non farm employment data lower than expected, Bitcoin hits 100000 mark before falling sharply to $96
The US Bureau of Labor Statistics released last night that the seasonally adjusted non farm payroll for January recorded 143000 people, significantly lower than the market expectation of 170000 and hitting a new low since October last year. The US Bureau of Labor Statistics stated that the changes in January employment data and annual revised data indicate a slowdown in the labor market that is healthy and continues to drive economic growth without causing inflationary pressures.
In addition, the unemployment rate unexpectedly dropped to 4.0%, hitting a new low since May last year. In response to the unexpected decline in the unemployment rate, the US Bureau of Labor Statistics emphasized in a statement that the unemployment rate survey data includes separate revisions to reflect estimates of new employment at the beginning of the year, making it impossible to compare the figures with previous months.
After the release of non farm payroll data, the possibility of the Federal Reserve considering interest rate cuts in the short term was basically extinguished. Major US stock index futures fell across the board, while Bitcoin experienced a wave of ups and downs, rising to $100000 at one point, but then quickly falling again, falling below $96000 this morning.
