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As of 10:30 AM on January 10, 2025, Bitcoin is experiencing a slight rise. The current price is $93,035.55, which represents a 0.40% increase over the past 24 hours. Despite a broader downturn in U.S. stock futures, Bitcoin has managed to hold steady and even gain, trading near the $94,600 mark earlier. This positive movement comes amid the release of a strong U.S. jobs report for December, which surpassed expectations and may be contributing to a more optimistic market outlook for Bitcoin.
This price movement comes amid the release of the U.S. jobs report for December, which surpassed analysts’ expectations. The economy added 256,000 jobs last month, exceeding the forecasted 165,000 and surpassing November’s 212,000. The unemployment rate also dropped slightly to 4.1%. December’s job growth marks the largest increase since March 2023, signaling economic strength.
Despite rising bond yields, with the 10-year and 30-year Treasury yields climbing, many analysts view the strong jobs data as a positive indicator for Bitcoin. Some even see it as a potential catalyst for the continuation of Bitcoin’s bullish trend, with market sentiment shifting towards risk-on assets.
Bitcoin’s current market cap stands at $1.843 trillion, with a circulating supply of approximately 19.81 million BTC.
Disclaimer: This article is for informational purposes only and does not constitute investment advice.