Business · Markets · 1 hr ago
Bitcoin hits one-month low as strong US jobs data lifts rate outlook
Bitcoin briefly fell to about $74,760, its lowest level in roughly a month, before recovering above $75,000 on Friday.
The cryptocurrency was trading lower as US employers added 165,000 jobs in October, more than expected.
Strong hiring can keep inflation concerns in focus and make higher interest rates more likely.
Markets saw about a 79% chance of a December rate increase, according to the CME Group's FedWatch tool.
Higher rates can weigh on assets such as bitcoin, while a stronger US dollar can make it more expensive for buyers elsewhere.
Bitcoin funds lost more than $430 million on Thursday, adding to pressure on the cryptocurrency.
Bitcoin was still down 1.6% for the week, and the next key focus is whether the Federal Reserve raises rates in December.
Bitcoin fell to its lowest level in about a month after strong US jobs data increased expectations of higher interest rates.
The cryptocurrency briefly reached US$74,760.10 before recovering above US$75,000.
At about 16:51 Brasília time on Friday, Bitcoin was down 0.78% at US$75,653.21.
Bitcoin-linked exchange-traded funds recorded more than US$430 million in net outflows on Thursday.
The October jobs report showed 165,000 new US jobs, well above expectations.
- Who
- Bitcoin and other cryptocurrencies, alongside US labor-market and monetary-policy watchers.
- What
- Bitcoin fell to a roughly one-month low as strong US jobs data lifted rate expectations. ETF outflows also weighed on the asset.
- When
- Friday, November 6, 2026; the reported price was at about 16:51 Brasília time.
- Where
- The United States and global cryptocurrency markets.
- Why
- The jobs report increased expectations of a US rate increase, while Bitcoin ETFs saw substantial outflows.
This story does not have two clearly opposing sides.
Bitcoin-linked ETFs recorded net outflows of more than US$430 million.
The US jobs report showed 165,000 jobs added in October, above expectations.
Bitcoin fell as low as US$74,760.10 before recovering above US$75,000.
- Bitcoin low
- US$74,760.10
- Bitcoin price
- US$75,653.21 at about 16:51 Brasília time
- Bitcoin daily change
- Down 0.78%
- US jobs added
- 165,000 in October
- Bitcoin ETF flows
- More than US$430 million in net outflows on Thursday
What people are saying
pushes the debate toward a rate increase in December
raise questions
need for the Fed to act as soon as possible to restore price stability