Bitcoin Nears $113,000 as Weak US Jobs Data Fuels Rate Cut Bets

The US labor market sent shockwaves through Wall Street, with Bitcoin (BTC) moving in response. Data shows that the August jobs report delivered the weakest payroll gains since 2021, raising alarms about the health of the US economy while fueling fresh demand for alternative assets like crypto. Bitcoin Gains as Investors React to Cracks in the US Employment Picture The US Bureau of Labor Statistics (BLS) reported that the economy added only 22,000 jobs in August, far below forecasts of 75,000. Meanwhile, the unemployment rate climbed to 4.3%, its highest since October 2021. This highlights cracks in a labor market that had previously appeared resilient. Revisions to past reports deepened the gloom, with June and July figures revised down by…