Bitcoin and Ethereum Wobble as US Reports Highest Unemployment Rate Since 2021
Bitcoin and Ethereum fell after the U.S. unemployment rate rose to 4.6%, its highest in four years, following delayed nonfarm payroll data. Bitcoin dropped to nearly $85,000 early Monday, then rebounded to $87,152, down 0.5% over 24 hours. Ethereum fell below $3,000 and remained at $2,935, a 3.5% daily loss. Despite the volatility, prediction markets see a 69% chance Bitcoin will climb above $100,000 before dropping to $69,000. The U.S. economy added 64,000 jobs in November but lost 105,000 in October, with previous months revised down. Analysts expect several Federal Reserve rate cuts in 2026, potentially weakening the U.S. dollar further. Historically, a weaker dollar boosts Bitcoin prices, as lower rates and improved global liquidity make crypto more attractive to investors.
