Bitcoin price springs 5% to $62K as US jobs data boosts rate cut bets
Bitcoin bulls welcome some BTC price relief while whales get busy accumulating nearly 50,000 BTC at the local lows.
Bitcoin (BTC) gained up to 5% on May 3 as United States employment data delivered a major risk-asset boost.
Data from Cointelegraph Markets Pro and TradingView tracked an impulsive BTC price move which took BTC/USD past $62,000 on Bitstamp.
U.S. nonfarm payrolls data for April came in markedly below expectations, offering some of the labor market weakness that the Federal Reserve said would bolster the case for interest rate cuts.
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Author: William Suberg
