The US job market is showing signs of weakening, which might boost Bitcoin prices. The unemployment rate in the US rose to 4.1%, surpassing the anticipated 4.0%.
A weaker-than-expected US job market report could boost Bitcoin prices as investors anticipate future rate cuts.
Bitcoin prices fell below the crucial $60,000 mark, reaching a four-month low amid the job market news.
Institutions are pulling funds out of US spot Bitcoin ETFs for the third consecutive week, with over $315 million in net outflows this week.
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