Bitcoin (BTC) Soars Past $61,000 Amid Rising US Unemployment and Unexpected Job Market Slump

• Bitcoin (BTC) is experiencing a surge, crossing the $61,000 mark, as new data reveals an increase in unemployment in the US.
• The U.S. Bureau of Labor Statistics reports that fewer nonfarm jobs were added in the US in April than expected, causing the unemployment rate to rise from 3.8% to 3.9%.
• Despite the unemployment rate, nonfarm workers’ hourly wages are increasing, with average hourly earnings rising by $0.07 in April.

As unemployment rises in the US, Bitcoin sees a surge in price, crossing the $61,000 mark. This article delves into the details of this development and its potential implications.

Bitcoin Surges Amidst Rising Unemployment

Bitcoin, the leading cryptocurrency by market cap, is experiencing a significant price surge, trading at $61,428 at the time of writing. This represents a 3.6% increase in the last 24 hours. On January 23rd, Bitcoin was valued at $39,833. This surge coincides with new data revealing a rise in unemployment in the US.

Unemployment Rate Rises in the US

The U.S. Bureau of Labor Statistics reports that the US added fewer nonfarm jobs than expected in April. This has contributed to the unemployment rate rising from 3.8% to 3.9%. Despite the rise in un... Read the full article for FREE at COINOTAG!