U.S. unemployment reaches a 17-year high, sending a positive signal for bitcoin bulls
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According to a report by Bijie Network: The number of layoffs in the United States surged by 205% in January, reaching 108,435, the highest record since 2009. This indicates that the labor market is cooling down and may force the Federal Reserve to cut interest rates. Such a potential easing policy could support bitcoin, which is currently still down nearly 50% from its all-time high of over $126,000.
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