According to Cointelegraph, Bitcoin’s price dropped under $75,000 following stronger-than-expected U.S. nonfarm payroll data. The payroll figures came out higher than market expectations, which boosted bets that interest rates might rise in December. Despite this positive data point for equity markets—particularly tech stocks—crypto markets did not respond in the same direction. Bitcoin’s decline occurred after the release of the payroll information. The price movement reflects continued weakness in the cryptocurrency sector relative to broader market trends.
