Bitcoin falls on dismal US jobs data, but Q4 rally to $185K still possible
A record-breaking US jobs revision set the stage for the Federal Reserve to cut rates, a move which could supercharge the next Bitcoin price breakout.
Key takeaways:
The US Labor Department revised payrolls down by 911,000 jobs, the largest cut in history, signaling deep labor market weakness.
The revision strengthens expectations of a Federal Reserve rate cut even though inflation is still elevated.
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