Yigit Taha OZTURK 
The U.S. March Nonfarm Payrolls and unemployment rate data were released today. According to the data, U.S. Nonfarm Payrolls came in at +151,000, slightly below the expected +159,000. The Unemployment Rate was reported at 4.1%, slightly higher than the forecast of 4.0%. Average Hourly Earnings showed a +0.3% increase, in line with expectations.
Following the release of these economic figures, there was notable movement in the cryptocurrency market. Bitcoin (BTC) saw a sharp rise, jumping from $89,000 to $90,200. This sudden surge is linked to investors reassessing the economic data and viewing Bitcoin as a potential store of value. The release of these figures has led to an increase in risk appetite in the markets, and Bitcoin quickly rebounded.
You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!
This surge in Bitcoin is indicative of the ongoing “safe haven” demand among investors and showcases how the crypto market reacts to traditional financial data. However, the break of the $90,200 level could trigger further bullish momentum, but there may also be selling pressure at these levels.
With volatility still prevailing in the markets, investors should closely monitor Bitcoin’s new support and resistance levels. The question remains whether Bitcoin will hold above these levels or experience further fluctuations in the coming days.
You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.