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03 Jun 2023

Why Did Bitcoin’s Price Rise? BTC Hovers Over $27K as Investors Shrug Off Hot Jobs Data

Why Did Bitcoin’s Price Rise? BTC Hovers Over $27K as Investors Shrug Off Hot Jobs DataEther and other major cryptos spent much of the day in positive territory. Bitcoin rose a little on Friday, but largely shrugged off an unexpectedly strong jobs report, along with a week’s worth of upset and uproar over the U.S. debt ceiling, end-game negotiations and renewed inflation concerns. The largest cryptocurrency by market capitalization was recently trading at about $27,180, up 1.2%. BTC edged above $27,000 shortly before U.S. equity markets opened on Friday after spending much of the previous two days well below this threshold, a result largely of the sort of inflationary angst that has hobbled prices over the past 18 months. “Bitcoin is holding steady after a busy week filled with a debt limit deal, a complicated jobs report that showed both robust hiring and surging lay

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