U.S. Job Gains and Geopolitical Tensions Impact Bitcoin Market

Robust U.S. employment data and Middle East tensions influence Bitcoin's price movements amid shifting investor sentiment.

The U.S. added a stronger-than-expected 254,000 jobs in September, lowering the unemployment rate to 4.1% and affecting Federal Reserve rate cut expectations.
Bitcoin's price fluctuated around $61,000, influenced by the U.S. jobs report and geopolitical tensions between Iran and Israel.
Geopolitical unrest in the Middle East has strengthened the U.S. dollar, impacting risk assets like Bitcoin and causing a decline in its price.
Despite recent declines, institutional demand for Bitcoin remains robust, with whales accumulating the cryptocurrency in anticipation of a potential bull run.
Bitcoin's market dominance is nearing a three-year high, highlighting its relative strength compared to other cryptocurrencies amid market volatility.