The US economy added 162,000 nonfarm jobs in August, more than expected, while the unemployment rate held at 4.1%. The data landed on September 4 as the Federal Reserve weighs its next rate decision.
Bitcoin dropped below $80,000 after the release, then recovered. U.S. spot Bitcoin ETFs recorded $731 million in net inflows on the same session, the largest daily inflow since January, according to CoinDesk and Cointelegraph. The inflows accompanied a price recovery toward $81,000.
The jobs print is a macro input: market participants read the numbers through the lens of what they imply for Fed policy. Correlation between the report and the price move is reported here; causation is not measured.
Reuters / CoinDesk / Cointelegraph