Bitcoin recovered from a 21-month low to reach $60,000 after softer U.S. employment and manufacturing data eased concerns about further interest-rate increases.
Bitcoin recovered from a 21-month low to reach $60,000 after softer U.S. employment and manufacturing data eased concerns about further interest-rate increases.
The recovery matters because expectations for Federal Reserve policy remain an important influence on crypto market sentiment. The latest economic readings revived hopes that pressure for higher rates may be fading.
Bitcoin rebounded from a 21-month low to $60,000 as softer U.S. jobs and factory data helped ease fears of another hawkish shift in interest rates.
The recovery matters because expectations for Federal Reserve policy remain an important influence on crypto market sentiment. The latest economic readings revived hopes that pressure for higher rates may be fading.
Bitcoin’s move marked a reversal from its recent local lows, with traders responding to signs of weaker conditions in the U.S. labor and manufacturing sectors.
The data does not confirm a change in Federal Reserve policy, but it reduced immediate concern that officials would need to pursue a more aggressive stance. Bitcoin’s return to $60,000 reflected that shift in expectations.
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