The US unemployment data has beaten forecasts to go as high as 3.9% in February 2024. This is 0.2% higher than expected and caused a flurry of activity in the markets. The US Dollar nosedived to 8-week lows before recovering slightly and bitcoin recorded a new All-Time High (ATH) of $70,000 before dropping back below $69k soon afterward.

What is Happening in the US Jobs Market?

The US jobs market has been strong for the better part of the last 2 years. This has puzzled economists across the board. Conventionally, high interest rates slow down the economy and the US Federal Reserve had to raise them in 2022 and 2023 to control rampant inflation in the country. 

The inflation did start to…

Read more on bitcoinnews