Bitcoin peaks to $16,800 on higher-than-expected US payroll data

The leading cryptocurrency spiked to $16,795 in response to strong labor market data.

Samuel Wan
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Samuel Wan
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Bitcoin peaks to $16,800 on higher-than-expected US payroll data

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The U.S. Bureau of Labor Statistics (BLS) released nonfarm payroll data showing 223,000 jobs were added in December 2022, marking a higher-than-expected increase.

U.S. nonfarm payroll was forecast to rise by 200,000 for last month after recording an actual rise of 263,000 in November.

As an initial response, Bitcoin recorded a 0.7% swing to the upside, peaking at $16,795.

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Samuel Wan
Samuel Wan
Analyst CryptoSlate

Samuel Wan, a finance professional turned full-time crypto content creator, values individual autonomy and personal freedom in his pursuits.

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