Bitcoin's rise after the jobs report indicates market volatility and a reaction to economic strength, though long-term price impact remains uncertain, especially with upcoming elections.
Malekan noted, "We know the economy is strong, or stronger than expected. And if that's the case, then the Fed is not going to cut interest rates as long as people had hoped."
Regarding cryptocurrency stability, Malekan stated, "it's possible that the uncertainty over... the upcoming election... is just weighing over crypto prices."
He concluded, "It's a confusing time, because the usual relationships have not been working," highlighting the unpredictable nature of Bitcoin pricing in the current climate.
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