Bitcoin tops $21,000 after better-than-expected U.S. payroll data

Bitcoin rose to over $21,000 yesterday. It reached the highest level since September 13, following a rally on Wall Street.

This morning, the bitcoin price rose by 4.17% to $21,126.39.

The Dow Jones Industrial Average climbs 500 points after the publication of the U.S. labor market data.

Keith Lerner, the principal analyst at Trust Advisory Services, said yesterday’s report on nonfarm employment and unemployment growth gave investors a positive outlook. That’s because it signals a slowdown in the labor market without a collapse in the economy.

According to the U.S. Department of Labor, nonfarm payrolls rose by 261,000 in October, but the increase slowed from 315,000 jobs in September. The unemployment rate rose to 3.7% from 3.5% in September.

Bitcoin surpassed $69,000 in November 2021. That was a record high before it fell below $20,000 in June 2022 as investors feared accelerated interest rate hikes and balance sheet contractions would stretch market liquidity and plunge the U.S. into recession.

The Spot Market is Open

Saturday, November 5, 2022

Crypto
Updated at
USD
Price

Change

%Change
13.00 BTC21,415.94+206.41+0.97
13.00 ETH1,651.74-8.90-0.54
13.00 LTC68.98+0.06+0.09
13.00 BNB359.92+3.20+0.90
13.00 XRP0.50+0.00+0.16
13.00 ADA0.43+0.01+2.68
13.00 DOT7.09+0.14+2.09
13.00 DOGE0.13+0.00+2.19
13.00 UNI7.71-0.02-0.21
13.00 LINK8.79+0.36+4.28

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