AICointelegraphabout 3 hours ago
Bitcoin recovers at 61K as weak jobs data fuels rotation
1 min read
Weak US non-farm payrolls of 57,000 reduced Federal Reserve rate hike odds and triggered capital rotation from the Nasdaq 100 Index into Bitcoin. Investors now favor scarce assets like gold after AI chipmaker losses at SanDisk, Seagate, Western Digital, Applied Materials, and Strategy dilution. Onchain data shows profit-to-loss ratios hit lows since 2022 while Federal Reserve balance sheet stagnation supports liquidity injection for alternative investments.
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