Tight Labor Market Spurs Rise of Bitcoin, Ethereum and Dogecoin
Major cryptocurrencies saw gains on Thursday evening as the latest jobless claims data suggested the labor market remained robust. Apex cryptocurrency Bitcoin traded above $25,000, Ethereum was up by nearly 1.66% at $1,675, and Dogecoin was up 4.17% in the last 24 hours. The global crypto market cap reached $1.09tn, up 2.21% in the last day. Data from the Bureau of Labor Statistics showed initial jobless claims had fallen to 192,000 for the week ending March 11, below both the previously reported figure and market expectation. However, a new class-action lawsuit claims crypto influencers promoted FTX without disclosing compensation for doing so. Reported only one out of three users of Arbitrum has received 1,000 tokens or more in an airdrop designed by blockchain analytics start-up Nansen. However, crypto experts continue to offer bullish predictions, with some analysts suggesting BTC could surge past $30,000 if the price closes above $25,000.
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