Non-Farm Payroll Data Released: How Did Bitcoin React? - Coin Bulletin

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In the US, the December Non-Farm Payrolls data was announced below expectations at 151 thousand TDI(TDI). Following the announcement, Bitcoin (BTC) and Ethereum (ETH) recorded gains, while the dollar index (DXY) moved upwards.

The TDI data, which is one of the important indicators of the US economy, is closely monitored by the markets. The announcement of this month's data as 151,000, falling below the 159,000 expectation, led to instant reactions in the markets. At the same time, the unemployment rate also came in below expectations at 4%.

Bitcoin, which was trading at $88,200 before the data release, rose to $90,000 after the announcement. Ethereum also continued its upward movement by surpassing the $2,225 level. This movement indicates that investors reacted in favor of cryptocurrencies to weak employment data.

On the other hand, the dollar index (DXY)** first moved downwards after the announcement, then recovered to reach 103.7.** This movement of the DXY, which is usually inversely correlated with Bitcoin, may cause price volatility in the coming hours.

After these data, the eyes of the market are turned to the US Federal Reserve's (FED) interest rate decision, which will be announced on March 19.** How the FED will evaluate these data and whether it will change its interest rate policy will be critical for investors.

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