Bitcoin Could Rise Further After U.S. Jobs Data — Market Talk

Bitcoin stands to benefit from improved risk sentiment after Friday's stronger-than-expected U.S. nonfarm payrolls report, 21Shares crypto strategist Matt Mena says in a note. The data highlights the resilience of the labor market, alleviating fears of an imminent recession and boosting risk sentiment, he says. "This favorable economic backdrop serves as a significant tailwind for bitcoin, which tends to thrive in an environment of growing investor confidence." The data could provide the momentum needed for bitcoin to return above $100,000 again and surge past last year's record high. Bitcoin rises 2.4% to $94,347, according to LSEG. It reached a record high of $108,379 on Dec. 17. ([email protected])