Bitcoin’s Short-Lived Surge Follows U.S. Employment Report

Following the release of U.S. economic data, Bitcoin (BTC) saw a brief spike above $92,000 before experiencing a pullback. The report highlighted a significant increase in the unemployment rate, reaching levels not seen in years, which may have contributed to this short-lived surge. 119,000 new jobs were added in September, far less than anticipated. This suggests a need for the Federal Reserve (Fed) to act more aggressively and raises questions about the future of monetary policy. The report also showed that the unemployment rate has returned to levels last seen four years ago, indicating a significant economic shift.