Bitcoin and Altcoins Experience Sharp Declines
Bitcoin (BTC) and altcoins are experiencing sharp declines in the face of bilateral tariffs announced by US President Donald Trump on April 2 Independence Day and China’s retaliation.
Federal Reserve Interest Rate Decisions
While the FED is expected to cut interest rates in order to reverse this situation, today the US Non-Farm Employment data, which is of great importance in the FED’s interest rate decision, was announced.
Importance of Non-Farm Employment Data
The data announced on the first Friday of each month is closely followed by investors and interested parties to understand the state of the economy.
Data Disclosure
The data disclosed is as follows:
- Nonfarm Payrolls Data: 228k Announced vs 137k Expected vs 151k Previous
- Unemployment data: Announced 4.2% – Expected 4.1% – Previous 4.1%
Bitcoin’s Reaction
Bitcoin’s reaction after the incoming data was as follows:
*This is not investment advice.
