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08 May 2023

Bitcoin, Ether Trade Flat After Mildly Encouraging Jobs Data

Bitcoin, Ether Trade Flat After Mildly Encouraging Jobs DataThe two largest cryptocurrencies by market capitalization were changing hands in a tight range after jobless claims were slightly higher than expected, a small sign the jobs market is cooling. Bitcoin (BTC) and ether (ETH) prices remained in tight ranges on Thursday amid low trading volume, and undisturbed by the Fed’s widely expected 25 basis point interest rate hike the previous day and the latest mildly encouraging data that suggests the hot jobs market might be weakening. Bitcoin was trading at about $28,900, roughly where it has stood most of the past 24 hours, while ether was hovering near $1,900. Jobless claims rose by 13,000 to 242,000 last week, slightly surpassing expectations of an 11,000 increase in claims. In comments Wednesday following the U.S. central bank’s decision

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