Hassan Maishera
TL;DR
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Bitcoin reached the $61k level late Wednesday after adding more than 2% to its value.
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The rally comes despite figures showing the U.S. added 818,000 fewer jobs than previously estimated.
BTC Trades Above $61k Again
The cryptocurrency market is bullish again after a bearish performance on Tuesday. Bitcoin, the leading cryptocurrency by market cap, is up more than 2% in the last 24 hours and is trading at $61k per coin.
The positive performance comes depsite figures showing the U.S. added 818,000 fewer jobs than previously estimated. On Wednesday, the U.S. Labor Department released revised figures for the 12 months ending in March. The data showed 818,000 fewer jobs added between March 2023 and March 2024 than previously estimated.
The revision means job growth in March 2024 surged by 1.4%, down from the 1.9% previously reported. Market analysts revealed that the 0.5% downward adjustment is the largest since 2009.
Bitcoin’s positive performance also sparked a rally amongst altcoins. Ether is up nearly 2% in the last 24 hours and trades above $2,600. Polygon’s MATIC is the best performer amongst the top 20 cryptocurrencies by market cap, up 11%.
