Bitcoin drops toward $82,000 as US JOLTS and consumer confidence diverge
CIE News ·
Bitcoin reached an intraday low of $82,775.94 on September 29 after US job openings slipped to 7.1 million while consumer confidence dropped to 81.9 amid worsening inflation worries, according to CryptoSlate.
Bitcoin (BTC) dropped to an intraday low of $82,775.94 on September 29 following mixed United States economic reports, according to CryptoSlate. The Bureau of Labor Statistics published August data showing job openings changed little at 7.1 million, down from a revised 7.3 million in July, while hires reached 5.2 million and layoffs remained flat at 1.6 million.
Concurrently, the Conference Board reported that its Consumer Confidence Index fell to 81.9 in September from 88.6 in August. Survey results indicated that 68.4% of households anticipate higher interest rates over the coming year, while expected average inflation rose to 6.1%, reflecting persistent consumer concern despite softening labor demand.
The divergence between steady employment indicators and rising consumer inflation fears has maintained pressure on risk assets, CryptoSlate reported. On September 28, US-traded spot Bitcoin ETFs recorded a positive net inflow of $31 million, marking a smaller intake than in each of the five preceding completed trading sessions.