The recent release of the US non-farm payroll data for April showed a lower-than-expected figure of 175,000, causing Bitcoin to surge by $1,200. This increase is the first time in five months that the non-farm payroll data has fallen short of expectations.
US Unemployment Rate Exceeds Expectations
Along with the payroll data, the US unemployment rate also surpassed expectations, coming in at 3.9% rather than the anticipated 3.8%. Prior to this announcement, Bitcoin's price had dropped to $59,100, but quickly rose to $60,330 following the news. Ethereum (ETH) also saw a similar increase in value.
