Bitcoin Drops as Job Market Strengthens
Update: 2025-11-21
Description
Bitcoin plummeted this week, dropping below sixty-three thousand dollars and hitting a one-month low, following a strong U.S. jobs report that dimmed hopes for interest rate cuts. Ether also declined, losing almost six percent. The robust jobs data, which showed three hundred three thousand new jobs and a three point eight percent unemployment rate, suggests the Federal Reserve may maintain higher interest rates, potentially dampening demand for speculative assets like cryptocurrencies. Bitcoins recent struggles may also be linked to waning interest in spot Bitcoin exchange-traded funds. Despite the current dip, some experts remain optimistic about Bitcoins long-term prospects due to its limited supply and growing institutional acceptance.
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