Bitcoin Slips Below $75,000 as Strong Jobs Data Lifts Fed Rate Hike Bets

Bitcoin fell to $74,762 on Friday, November 6, its lowest level since August 21. A strong US jobs report raised bets on a December Fed rate hike. Stocks rebounded the same day, but Bitcoin did not follow. As of Saturday, November 7, it trades near $75,700. The US economy added 165,000 jobs in October, against forecasts of about 65,000. September’s figure was revised up from 29,000 to 60,000. Unemployment dropped to 4.1%, below the expected 4.2%. CME FedWatch put the odds of a 25-basis-point hike on December 9 at 76.8%, up from 66.9%.