The post Bitcoin Seesaws as Investors Weigh Weak Jobs Data, Rate Cuts appeared on BitcoinEthereumNews.com. In brief The U.S. economy added just 22,000 jobs in August. That locks in rate cuts in the coming months, according to Grayscale’s Zach Pandl. A labor snapshot like Friday’s would typically provoke recession fears, he said. The price of Bitcoin and other cryptocurrencies seesawed on Friday as investors weighed a weaker-than-expected jobs report against the increased likelihood of rate cuts. Nonfarm payrolls increased by 22,000 in August, the U.S. Bureau of Labor Statistics said, while economists anticipated that the U.S. economy would add 75,000 jobs last month. The unemployment rate meanwhile ticked up to 4.3% from 4.2% a month prior. Bitcoin climbed to $113,000 following the report’s release, but then it dove $110,500, while still showing a 1.1% increase over the past day, according to crypto data provider CoinGecko. Ethereum and XRP meanwhile fell 1.1% to $4,300 and 0.7% to $2.82, respectively, over the same period. ETH was more recently down a few fractions of a percentage point, while XRP rose slightly.   Today’s report could be a catalyst for the next leg up in crypto valuations, if stocks and other risky assets are able to hold up okay, according to Zach Pandl, head of research at the crypto asset manager Grayscale.  A job report like Friday’s would typically trigger recession fears, he told Decrypt, but there’s an understanding that reduced immigration is negatively affecting growth.  “We know stocks fall in a recession, but they may not fall in a sluggish labor market driven by immigration cuts,” he said. “We know that reduced immigration has played a big role, and the slowing jobs market is not just about firms pulling back on hiring or on labor demand.” Friday’s labor snapshot included revisions for June and July, wiping away a total 21,000 jobs across both months. The U.S. economy actually… The post Bitcoin Seesaws as Investors Weigh Weak Jobs Data, Rate Cuts appeared on BitcoinEthereumNews.com. In brief The U.S. economy added just 22,000 jobs in August. That locks in rate cuts in the coming months, according to Grayscale’s Zach Pandl. A labor snapshot like Friday’s would typically provoke recession fears, he said. The price of Bitcoin and other cryptocurrencies seesawed on Friday as investors weighed a weaker-than-expected jobs report against the increased likelihood of rate cuts. Nonfarm payrolls increased by 22,000 in August, the U.S. Bureau of Labor Statistics said, while economists anticipated that the U.S. economy would add 75,000 jobs last month. The unemployment rate meanwhile ticked up to 4.3% from 4.2% a month prior. Bitcoin climbed to $113,000 following the report’s release, but then it dove $110,500, while still showing a 1.1% increase over the past day, according to crypto data provider CoinGecko. Ethereum and XRP meanwhile fell 1.1% to $4,300 and 0.7% to $2.82, respectively, over the same period. ETH was more recently down a few fractions of a percentage point, while XRP rose slightly.   Today’s report could be a catalyst for the next leg up in crypto valuations, if stocks and other risky assets are able to hold up okay, according to Zach Pandl, head of research at the crypto asset manager Grayscale.  A job report like Friday’s would typically trigger recession fears, he told Decrypt, but there’s an understanding that reduced immigration is negatively affecting growth.  “We know stocks fall in a recession, but they may not fall in a sluggish labor market driven by immigration cuts,” he said. “We know that reduced immigration has played a big role, and the slowing jobs market is not just about firms pulling back on hiring or on labor demand.” Friday’s labor snapshot included revisions for June and July, wiping away a total 21,000 jobs across both months. The U.S. economy actually…