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Crypto rally after strong US labor market data: Investors optimistic!
Strong US labor market data strengthens the crypto market: Bitcoin and Ethereum are increasing, while meme coins are also on the rise.
Crypto rally after strong US labor market data: Investors optimistic!
In the last 24 hours, the cryptocurrency market capitalization has increased by 1% to an impressive $2.19 trillion. This follows surprisingly positive US jobs data, which showed 254,000 non-farm jobs added in September, well above the 140,000 expected. The unemployment rate also fell to 4.1%, giving the crypto market a breath of fresh air and lifting sentiment, especially in sectors such as meme coins and artificial intelligence.
Bitcoin is holding steady, up 1.5% to $63,042.13, while Ethereum is up 1.5% to $2,467.17. However, the recovery in the meme coin sector is particularly impressive, with a jump of 5.8% to $49.6 billion, led by dogwifhat and Mog Coin, which were each up over 14%. Smaller cryptocurrencies are also seeing notable moves, while some top cryptocurrencies are also gaining despite mixed results. The positive data could not only increase confidence in digital currencies, but also lead to stabilization of the entire market, as news-krypto.de reports.