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Home BlockchainBitcoin Slides as Fed Rate Cut Doubts Follow Strong Jobs Report
Blockchain

Bitcoin Slides as Fed Rate Cut Doubts Follow Strong Jobs Report

by Decrypt
written by Decrypt 0 comments
Bitcoin Slides as Fed Rate Cut Doubts Follow Strong Jobs Report

In brief

  • The U.S. economy added 130,000 jobs in January.
  • Traders grew increasingly doubtful about a rate cut in March.
  • Gold prices climbed following the jobs report’s release.

Bitcoin resumed its slide on Wednesday after a strong U.S. jobs report dampened hopes that the Federal Reserve would lower interest rates at its next policy meeting.

The leading cryptocurrency by market cap changed hands around $67,500, a 2% decrease over the past day, according to CoinGecko. Altcoins showed steeper declines,…

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