Bitcoin Price Plummets After U.S. Jobs Report Shows Massive Job Losses

Bitcoin investors are reacting to a revised US Nonfarm payrolls report that reveals significantly weaker job market conditions than previously reported. The BLS has now revised down the number of jobs added by 911,000, marking the largest drop ever recorded. The shift in data raises concerns for the Federal Reserve and its plans for future interest rate cuts. Many analysts are now predicting more aggressive Fed rate reductions. However, there is a growing sense of uncertainty regarding the timing of those cuts and their impact on Bitcoin’s price.