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Bitcoin falls below 60000 after hot jobs data
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Bitcoin dropped below 60000 on June 5 amid stronger than expected US jobs figures and ongoing capital shifts toward AI.
The US Bureau of Labor Statistics released the August 2025 jobs report on September 5, revealing that employers added only 22,000 jobs, below expectations, while the unemployment rate rose to 4.3%. This data signaled a stalling labor market, boosting expectations for Federal Reserve interest rate cuts. Markets reacted with stocks slipping after initial highs and Treasury yields hitting five-month lows.