Bitcoin Plummets as Jobs Data Dampens Rate Cut Hopes

Bitcoin plummeted this week, dropping below sixty-three thousand dollars, following strong U.S. jobs data and diminished hopes for an interest rate cut. Ether also fell, reflecting the crypto markets sensitivity to economic indicators and central bank policies. The U.S. added three hundred three thousand jobs in March, lowering the unemployment rate to three point eight percent, which may delay a potential interest rate cut. This could impact Bitcoins attractiveness to investors, as higher interest rates typically reduce the appeal of speculative assets. The near-term outlook for Bitcoin remains uncertain, with its price likely to be influenced by upcoming economic data and Federal Reserve announcements.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.