The highly anticipated non-farm payrolls and unemployment data were announced in the US. Non-farm payrolls came in at 272K, higher than the expectations of 182K. This may mean that the economy has not cooled down enough, but the unemployment data was exactly the opposite. The annual unemployment rate expected to be 3.9% was 4%.

Sharp movements in Bitcoin

Bitcoin price first rose sharply and then fell minutes before the data was announced. The largest cryptocurrency, which rose to $71,800 before the announcement, then fell below $71,000.

On the other hand, the probability of a Fed rate cut before December also fell in the futures markets. The September rate cut expectation fell from 70% to 55%.