Last night, the U.S. released employment data, and Bitcoin immediately dropped. August saw the addition of 162,000 jobs—far exceeding the forecast of around 56,000. The strong labor market has diminished expectations that the Fed will cut rates in September. Bitcoin promptly plunged, with approximately $200 million in crypto leverage liquidated within just 15 minutes. Good news for U.S. workers, but cold news for risk assets betting on early easing. The market now awaits the next inflation data and the Fed’s rate decision. Note: This information is for reference only and does not constitute investment advice.
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