Joel Frank Last updated: August 2, 2024 at 20:22 GMT+3 | 3 min read Bitcoin (BTC) Price Plunges Briefly Back Below $63,000 as Weak US Jobs Data Triggers Recession Fears / Source: Cryptonews The US employment rate unexpectedly jumped to 4.3% from 4.1% in July, triggering a sharp drop in risk assets on Friday. This caused the Bitcoin price to plunge briefly below $63,000 as US recession fears rose. After briefly falling to $62,300, the Bitcoin price recovered to $63,000 as US equity markets reeled. The weaker-than-expected headline US jobs number showed only 114,000 jobs added to the economy in July, falling short of the projected 176,000. However, the unexpected rise in unemployment stole the show, prompting concerns of a potential recession. Economist Holger Zschaepitz highlighted
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