Bitcoin (BTC), the world’s first and largest cryptocurrency by market capitalization, has seen whipsaw price action since the release of a much stronger-than-expected US jobs report for September. The blockbuster report showed the US economy adding 336,000 jobs last month, nearly double the median economist forecast for a gain of 171,000. Those numbers underscored the ongoing strength of the US economy, which should bolster the case for 1) another interest rate hike from the US Federal Reserve (Fed) and 2) that the Fed should subsequently hold interest rates at higher levels for longer. Unsurprisingly, US yields spiked higher across the curve, with the 10-year briefly nearing 4.9%, as traders bets on higher interest rates for longer, with this spike weighing on on crypto prices at the
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