Bitcoin Soared After U.S. Payroll Report Shows Economic Resilience

U.S. payroll data offered a glimmer of economic resilience, with the unemployment rate holding steady at 4.2%. This news spurred a swift response in market trading. S&P 500 futures surged by 1.13% in premarket trading, while Bitcoin also reacted positively, climbing back above $97,106 within 30 minutes after the announcement. The rebound signals investor optimism about a potentially resilient economy and raises speculation on future Federal Reserve actions regarding interest rates. Bitcoin’s surge coincides with broader market gains as economic data counters fears of an imminent recession.