Bitcoin Rises as Wall Street Cements ‘Liberation Day’ Recovery on Strong Jobs Report
Summary
Bitcoin's price increased to around $97,000, a 0.4% rise, with a peak of over $97,800, its highest since February. The U.S. economy added 177,000 nonfarm payrolls in April, surpassing expectations, while the unemployment rate remained at 4.2%. This data conflicted with earlier reports of economic contraction, raising hopes for Federal Reserve rate cuts. Traders now see a 66% chance the Fed will maintain rates in June. Wall Street indices, including the S&P 500 and Nasdaq, rebounded from recent losses. The U.S. Dollar Index fell 3.7% over the past month, with gold prices rising 3% to around $3,200 per ounce. Analysts suggest Bitcoin is increasingly viewed as a safe-haven asset amid economic uncertainty and fears of stagflation.
