The U.S. economy added 175,000 jobs in April, falling short of economist forecasts for 243,000 jobs and March's revised 315,000. The unemployment rate rose to 3.9%, exceeding predictions and the previous month's 3.8%. Bitcoin price surged after the news.
Interest rates and the U.S. dollar have surged in 2024 despite the previous expectation of rate cuts by the Federal Reserve. Speculations on rate hikes arise due to strong job growth and inflation pressure, impacting Bitcoin's recent price decrease.
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