Crypto Reverses Early Gains, Bitcoin Dives Back to $69K
Summary
Cryptocurrency prices experienced a pullback after recent gains, with bitcoin dropping to $69,000, down 1.3% in 24 hours. Ether and Solana also saw declines, while Cardano and Litecoin had modest gains. The U.S. reported a slowdown in job growth, with only 12,000 jobs added in October, the weakest since 2020. The ISM Manufacturing PMI fell to a 16-month low. Despite this, the 10-year U.S. Treasury yield rose to 4.38%. U.S. stocks remained strong, with the Nasdaq up 0.7% and S&P 500 up 0.4%, led by Amazon's 6.1% rise. Bitcoin remains up nearly 15% over the past month. Interest in U.S.-based spot bitcoin ETFs has increased.
