Good news means bad news? Bitcoin shrugs off weakest US dollar of 2024
Bitcoin price action seems uninterested in rapidly declining US dollar strength, as a shock payroll revision adds to DXY pressures.
Bitcoin (BTC) refused to budge at the Aug. 21 Wall Street open while a “massive” United States employment revision boosted bullish risk-asset bets.
Data from Cointelegraph Markets Pro and TradingView showed flat BTC price action continuing despite a bombshell drawdown in US nonfarm payroll figures.
According to data from the US Bureau of Labor Statistics (BLS), these were revised down by 818,000 on the day. The period from April 2023 through March 2024 thus overstated payrolls by an average of 68,000 per month.
Go to Source
Author: William Suberg
