The US economy added 162.000 new jobs in August, a figure that far exceeded market expectations. This surge in employment triggered an immediate reaction in the crypto ecosystem, causing a decline in the price of major digital assets.
The impact of non-farm payrolls on the global economy
The recent non-farm payrolls report reveals that The United States added 162.000 jobs in AugustThis figure contrasts sharply with the consensus estimate, which projected a significantly smaller increase.
The strength of the labor market suggests the Federal Reserve may keep interest rates elevated for longer to control inflation. As a direct consequence, risk assets, including Bitcoin and Ethereum, have experienced selling pressure that pushed the price of BTC down 2% shortly after the announcement.
As investors digest the new macroeconomic data, volatility could continue to set the pace for the next few sessions in global financial markets.
Investing in cryptoassets is not fully regulated, may not be suitable for retail investors due to high volatility and there is a risk of losing all invested amounts.
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