Bitcoin perks up after big downward revision to U.S. jobs growth

seekingalpha08-22

Bitcoin (BTC-USD) knee-jerked higher after the U.S. Bureau of Labor Statistics marked down the number of workers in payrolls by the most in 15 years. The cryptocurrency is making yet another attempt ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2461772138?lang=en_US&edition=fundamental","thumbnail":"https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1312255802/image_1312255802.jpg","is_english":true,"pubTime":"2024-08-22 02:56","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2461772138","market":"us","top_or_hot":-1,"title":"Bitcoin perks up after big downward revision to U.S. jobs growth","media":"seekingalpha","content":"<div>\n<p>Bitcoin (BTC-USD) knee-jerked higher after the U.S. Bureau of Labor Statistics marked down the number of workers in payrolls by the most in 15 years. The cryptocurrency is making yet another attempt ...</p>\n\n<a href=\"https://seekingalpha.com/news/4142511-bitcoin-perks-up-after-big-downward-revision-to-us-jobs-growth\">Source Link</a>\n\n</div>\n","source":"seekingalpha_crypto","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bitcoin perks up after big downward revision to U.S. jobs growth</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBitcoin perks up after big downward revision to U.S. jobs growth\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-08-22 02:56 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4142511-bitcoin-perks-up-after-big-downward-revision-to-us-jobs-growth><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Bitcoin (BTC-USD) knee-jerked higher after the U.S. Bureau of Labor Statistics marked down the number of workers in payrolls by the most in 15 years. The cryptocurrency is making yet another attempt ...</p>\n\n<a href=\"https://seekingalpha.com/news/4142511-bitcoin-perks-up-after-big-downward-revision-to-us-jobs-growth\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4588","symbol_name":"碎股","start_time":0,"source_url":"https://seekingalpha.com/news/4142511-bitcoin-perks-up-after-big-downward-revision-to-us-jobs-growth","article_id":"2461772138","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1312255802/image_1312255802.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2461772138","pubTimestamp":1724266608,"sourceInfo":{"source_id":"seekingalpha_crypto","name":"Seeking Alpha Cypto"},"weMediaInfo":null,"summary":"Bitcoin (BTC-USD) knee-jerked higher after the U.S. Bureau of Labor Statistics marked down the number of workers in payrolls by the most in 15 years. The cryptocurrency is making yet another attempt t","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4588":"碎股","BK4539":"次新股","BK4595":"比特币概念","BK4023":"应用软件","BK4516":"特朗普概念","BK4554":"元宇宙及AR概念","BK4547":"WSB热门概念","BK4112":"金融交易所和数据","LU1861558580.USD":"日兴方舟颠覆性创新基金B","BK4535":"淡马锡持仓","BK4551":"寇图资本持仓","BK4585":"ETF&股票定投概念","COIN":"Coinbase Global, Inc.","BITX":"2X BITCOIN STRATEGY ETF","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD"},"translate_title":"美国就业增长大幅下调后，比特币振作起来","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BITX":1,"COIN":0.8},"content_text":"Bitcoin (BTC-USD) knee-jerked higher after the U.S. Bureau of Labor Statistics marked down the number of workers in payrolls by the most in 15 years. The cryptocurrency is making yet another attempt to break out of the current strong $60K resistance level, climbing 2.6% to $60.7K at 2:56 p.m. ET. Since the Aug. 4-5 market swoon, bitcoin has flirted the $60K level more than five separate times. Ethereum (ETH-USD), the world's largest altcoin, also advanced after the BLS revision, rising 1.5% to $2.63K at the time of writing. Here's a list of all the major digital tokens and their price action. The payrolls benchmark was revised down 818K, or by 0.5%, for the 12 months through March 2024. That's the largest downward revision since 2009, adding pressure on the Federal Reserve to cut interest rates at its next meeting on Sept. 17-18. The preliminary estimate signals the labor market started softening much sooner than originally estimated. The final revision will be issued in February 2025. A broad interpretation of the data suggests that a weaker-than-expected economy results in more accommodative monetary policy by the Fed, which, in turn, drives bitcoin (BTC-USD) prices higher than they would otherwise be. Only time will tell if this dynamic plays out in favor of BTC.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"Economic Data","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2461772138"}