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Bitcoin exceeds $64,000 after the turning point. Is the fix complete?

I was refreshed Cryptocurrencies Bitcoin (BTC) led gains on Friday, raising hopes that the worst of the decline is over. Bitcoin rose and reached $64,000 in the previous hours. The bullish reversal came after the U.S. jobs report for April came in below expectations, easing fears of rising interest rates. At press time, the price of Bitcoin was $61,600, up 4.4%.

Alternative prices of cryptocurrencies

Ether (ETH) has reclaimed the $3,000 level and is up 3% over the same period, while major coins such as Dogecoin (DOGE), Shiba Inu (SHIB), and NEAR (NEAR) have jumped between 5% and 10%.

Cryptocurrency prices

Read also: The impact of current events on digital currencies

Evolution of prices on the market...employment data

The U.S. economy added 175,000 jobs in April, below analysts' expectations of 245,000 and lower than the previous month's 315,000, according to the nonfarm payrolls report. It also showed a slight increase in the unemployment rate to 3.9% from 3.8% in March.

Market participants expect a 68% chance of a rate cut by September, up from 57% a week ago, according to CME FedWatch data. Federal oversight.

David Hahn and David Dong, analysts at Coinbase, said that Working data The weakness and the results of the Federal Open Market Committee meeting indicate a spike for the US dollar.

Arthur Hayes, former head of digital exchange BitMEX, said in his recent article that Bitcoin may have bottomed this week at $56,000, but warned of a gradual recovery rather than a rapid recovery.

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