• Bitcoin has reacted positively to the US Labor Department’s positive job report for December 2022, jumping towards the $17,000 mark.
• The report showed that the unemployment rate dropped to 3.5%, and that 223,000 jobs were added in December, which was higher than expected.
• Overall, the US economy added 4.5 million new jobs in 2022, with the best month being February, with over 700,000 jobs added.

The primary cryptocurrency, Bitcoin, reacted with minor volatility heading north after the US Labor Department released its positive job report for December 2022. The report showed that the unemployment rate dropped to a historic low of 3.5%, while the economy added 223,000 jobs, which was higher than the 200,000 estimated by Bloomberg.

This news has given a boost to Bitcoin, causing it to jump towards the $17,000 mark. This is the latest evidence of a strong recovery for the world’s most powerful economy, which has been largely driven by a combination of government stimulus and a vaccine rollout that has helped the US maintain its momentum despite the disruption caused by the COVID-19 pandemic.

The report revealed that the US economy added 4.5 million new jobs in 2022, with the best month being February, which saw over 700,000 jobs added. This was followed by March and April, which saw just under half a million jobs added each month. The end of the year saw a slowdown in job gains, with December adding 223,000 jobs.

The positive news from the US Labor Department has been welcomed by many in the cryptocurrency community, who believe that it is indicative of a broader trend of economic recovery. This has been further bolstered by the fact that the US Federal Reserve has maintained its accommodative monetary policy, which has helped to support the economy despite the challenges posed by the pandemic.

It remains to be seen how this news will affect Bitcoin in the long run, but the currency has certainly been buoyed by the news so far. As the world continues to recover from the pandemic, it is likely that the cryptocurrency market will remain volatile, but the positive job report from the US is certainly a sign that the economic recovery is well underway.