Unemployment Rate Fell, But why is the market going down too?
Hello guys,
Yesterday, October 7 at 12.30 (GMT Time), the US government announced that the unemployment rate had fallen to 3.5% from 3.7% in the previous month.
And that's good news, because it signals that the economy is getting better, with lots of job openings.
But why is the market responding negatively? because when the news was announced, a few minutes later the price of BTC actually dropped by about 3%
https://i.ibb.co/Fn5YKcC/BTC.jpg
Yesterday, October 7 at 12.30 (GMT Time), the US government announced that the unemployment rate had fallen to 3.5% from 3.7% in the previous month.
And that's good news, because it signals that the economy is getting better, with lots of job openings.
But why is the market responding negatively? because when the news was announced, a few minutes later the price of BTC actually dropped by about 3%
https://i.ibb.co/Fn5YKcC/BTC.jpg
