
Bitcoin drops to $23,250 on significantly higher-than-expected US payroll data
The leading cryptocurrency fell to $23,250 in response to strong labor market data.

Cover art/illustration via CryptoSlate
The U.S. Bureau of Labor Statistics (BLS) released nonfarm payroll data showing 517,000 jobs were added in January, marking a significantly higher-than-expected increase.
Economists had forecast 185,000 nonfarm jobs to be added for the month, fewer than December’s actual 223,000 jobs added.
As an initial response, Bitcoin recorded a 1.1% swing to the downside, bottoming at $23,250 on the 13:30 (UTC) 5-minute candle.

Latest Payroll Stories
Commitment to Transparency: The author of this article is invested and/or has an interest in one or more assets discussed in this post. CryptoSlate does not endorse any project or asset that may be mentioned or linked to in this article. Please take that into consideration when evaluating the content within this article.
Disclaimer: Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
In this article
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
More about Bitcoin