US Jobs Data Revision Pushes Bitcoin To $110,000
The Bureau of Labor Statistics estimates that the U.S. economy created nearly a million fewer jobs in the year ending March 2025 than previously reported.
More specifically, 911,000 were subtracted from the national benchmark current employment statistics after a preliminary revision by the U.S. Bureau of Labor Statistics on Tuesday. Stock markets barely reacted to the news, but Bitcoin (BTC) briefly fell around 1% into the $110,000 range.
Downwardly revised employment data from the U.S. Bureau of Labor Statistics
Looking back at all advance revisions to the baseline figure going back to 2000, Tuesday’s figure of 911,000 represents the largest downward revision in 25 years.
Today, the Bureau of Labor Statistics released its largest downward revision of its forecasts ever, proving President Trump right: The Biden economy has been a disaster and the Bureau of Labor Statistics is broken, White House press secretary Carolyn Leavitt said.
Just as the Bureau of Labor Statistics has failed the American people, so has Jerome «Too Late» Powell, who has officially run out of excuses and is forced to cut rates now.
In early August, US President Donald Trump fired former Bureau of Labor Statistics commissioner Erica McEnturfer, accusing her of manipulating employment data to make his administration look “bad.”
Meanwhile, according to CoinGecko, a few hours after the news, the BTC price returned to the $111,000 range, so in this situation it is correct to talk about normal intraday volatility.
