Employers added 165,000 jobs in October, against a 65,000 consensus, and Bitcoin barely moved. The coin closed Friday at $75,731, down 0.3%, and $283 above the $75,448 average cost of Strategy's 849,327 coins. The 10-year yield rose to 4.87%, per Trading Economics. STRC gained 28 cents to $99.84. Spot Bitcoin funds lost another $411.9 million. A hot jobs print pushed yields up and the preferred up on the same day, the opposite of what the thesis pairs.
Trading Economics reports payrolls of 165,000 against its own 40,000 forecast, with September revised up to 60,000 from 29,000. Unemployment fell to 4.1% from 4.2%. Hourly earnings rose 0.4% on the month and 3.1% on the year. Bitcoin Magazine put the consensus at 59,000 and called the print "nearly three times" the estimate.
The 10-year touched 4.9% after the release and settled near 4.86% to 4.87%, up 3 basis points. The box's FRED series reads 4.86%. The 2-year rose 5 basis points to 4.52%. The 30-year held at 5.27%. The dollar index gained 0.7% to 102.28. The 10-year real yield reads 2.63% on the box.
Continued at bitcoinhashpoint.com →