Bitcoin saw a 10% increase in prices (BTC/USD) over the weekend, driven by economic data suggesting a slowdown in job growth. This has raised investor expectations for rate cuts, benefiting risk assets such as cryptocurrencies. After the U.S. jobs report revealed fewer job additions in April than anticipated, Bitcoin surged from $58,670 to $64,500.
Investors view the lower job numbers as a potential signal for interest rate cuts by the U.S. Federal Reserve, which could favor risk-driven investments. Low interest rates typically prompt businesses and consumers to borrow more and seek higher returns through riskier investments, including cryptocurrencies.
On Monday, Bitcoin continued its upward momentum, briefly exceeding $65,000. Lower borrowing costs tend to stimulate economic activity, encouraging expansion by businesses and higher-risk spending by consumers, further boosting the appeal of Bitcoin and other cryptocurrencies.