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Bitcoin (BTC) News Today: US Jobs Report and ETF Market Trends Return BTC to $63,000
Bitcoin (BTC) rallied 6.42% on Friday (May 3). Following a 1.16% gain on Thursday (May 2), BTC closed the session at $62,938. Investors reacted to the US Jobs Report and ISM Services PMI Survey. Weaker-than-expected data rekindled investor expectations of a September Fed interest rate cut. Average hourly earnings rose 3.9% year-on-year in April after increasing by 4.1% in March. Nonfarm payrolls advanced by 175k after jumping by 315k in March. Softer-than-expected wages could impact disposable income and consumer spending. Downward trends in consumer spending may dampen demand-driven inflation and allow for a more ... (full story)