Bitcoin Pops Off 21-Month Low to $60K as Soft Data Eases Rate-Hike Fears
Decrypt·
60-second summary
Bitcoin is currently trading at $60,000 after a 21-month low, as softer US jobs and factory data ease concerns about the Fed's rate hikes. The market is responding positively to the data, with investors regaining confidence in a potential slowdown in monetary tightening. This shift in sentiment is boosting cryptocurrency prices, with implications for the broader market and investor sentiment.
BTC recovered from local lows to $60,000 after softer U.S. jobs and factory data revived hopes the Fed's hawkish turn could be easing.