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The US Non-Farm Payrolls and Unemployment data released at 12.30 (GMT) time today could have a significant impact on Bitcoin
The Non-Farm Payrolls data was announced at 236,000, below expectations. This can be considered a sign of slowing in the US economy and could have a negative impact on the currency.
The unemployment rate was announced slightly below expectations at 3.5% according to CoinOtag data. This rate can be considered an indicator of stability in the economy.
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Recently, Bitcoin prices have shown an inverse correlation with the DXY index. However, there are many factors that affect Bitcoin prices and investors should take these factors into account.
With the release of the data, there was high volatility in Bitcoin prices. However, the impact of the data has not yet been clearly seen. Investors should closely monitor Bitcoin prices and be prepared for any movements that may occur after the data is released.
In short, the US Non-Farm Payrolls and Unemployment data could have a significant impact on Bitcoin prices. There may be high volatility with the release of the data and prices may change rapidly. It is important for investors to be prepared for possible fluctuations in Bitcoin prices and adjust their investments accordingly.