Bitcoin and Gold Crash As US Payrolls Crush Forecasts
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Stronger-than-expected US payrolls data pushed the dollar and Treasury yields higher, triggering sharp declines in both Bitcoin and gold. Markets viewed the jobs beat as increasing the likelihood of further Fed tightening, which pressured risk assets and safe havens alike. Implication for Bitcoin: near-term downside risk and elevated volatility as higher rates and a stronger dollar weigh on demand and reinforce Bitcoin’s sensitivity to macroeconomic and policy shifts.
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