Cryptocurrencies
Bitcoin Slides to One-Month Low as Jobs Data Trigger Volatility
- Disappointing labor report triggers volatility across markets
- Crypto-stocks correlation rarely been higher in past two years
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Bitcoin and other cryptocurrencies turned sharply lower, erasing earlier gains, as digital assets got swept up in a volatile trading session across markets following a disappointing US jobs report.
Bitcoin rose as much as 1.6% after the August employment report Friday morning in New York, only to turn decidedly lower about an hour later. The original crypto asset was down 4.5% at about $53,555, its lowest price since Aug. 5, as of 2:54 p.m. in New York. Ether, the second-biggest cryptocurrency, was down almost 6%.