U.S. added 165,000 jobs in October, blowing past 65,000 estimate
AI summary
The U.S. economy added 165,000 jobs in October, far exceeding the 65,000 estimate, and the unemployment rate unexpectedly fell to 4.1%. A resilient labor market reduces the odds of near-term Fed rate cuts, which typically pressures risk assets including crypto. Traders will watch for follow-through in bond yields and the dollar, since tighter-for-longer policy is a headwind for bitcoin and altcoins.
