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Bitcoin price falls below $61k as labor data sparks market-wide selloff
Tuesday opened with red across financial markets with Bitcoin (BTC), altcoins, stocks, gold, silver, and oil all trending lower. At the same time, the DXY and U.S. 10-year Treasury yield spiked, all in response to yet another hotter-than-expected inflation reading – this time from the U.S. Bureau of Labor Statistics. According to the new data release, the employment cost index rose 1.2% from December to March, the highest increase in a year, after rising 0.9% at the end of 2023. Wages and salaries also increased by 1.1% over that same three-month period, along with a 1.1% increase in benefit costs. The negative ... (full story)