Bitcoin drops below $60,000 as strong U.S. jobs data fuels rate concerns
By
Jason Capul
3h ago· 1 min readenNews
70/100
Toasty
Bagelometer↗
A respectable bake. You'd come back tomorrow for another.
Score70TypenewsSentimentnegative
Summary
Bitcoin fell 4.5% below $60,000 amid a broad risk-off market move triggered by stronger-than-expected U.S. payrolls data. The jobs report raised concerns that interest rates could stay elevated for longer, pressuring risk assets like cryptocurrencies. The RSI indicator has hit oversold levels, suggesting the selloff may be overextended.
Key quotes
· 3 pulledBitcoin (BTC-USD) extended its recent decline on Friday, falling 4.5% amid a broad risk-off move across financial markets
Stronger-than-expected U.S. payrolls data fueled concerns that interest rates could remain elevated for longer
The world's largest cryptocurrency dropped below the $60,000
Bitcoin drops below $60K as strong U.S. jobs data lifts yields and risk-off sentiment; RSI hits oversold lows.
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