Bitcoin Price Prediction as Weak U.S Jobs Data Spurs Rate Cut Hopes –

Arslan Butt Last updated: May 10, 2024 04:52 EDT | 3 min read Bitcoin (BTC) dipped slightly by 0.20%, settling at $63,000, yet maintains a bullish stance in the latest bitcoin price prediction. The rise in jobless claims to 231,000, the highest since August 2023, suggests a cooling U.S. labour market, prompting anticipatory actions by the Federal Reserve. This could lead to rate reductions earlier than projected, influencing Bitcoin’s appeal as a non-traditional investment. U.S. Jobs Data Sparks Rate Cut Speculation—What’s Next for BTC. The Labor Department reported a notable increase in initial jobless claims for the week ending May 4, reaching 231,000—22,000 more than the previous week and well above the Dow Jones estimate of 214,000. This marks the highest level since Au