The weak jobs report reinforced expectations of continued easy money policy at the Federal Reserve, which sent bitcoin higher by about 2% over the past 24 hours.
The April jobs miss suggests a fragile economic recovery, which means easy money from the Fed could continue to fuel the rally across risk assets.
“During the last round of stimulus, there was a lot of talk about people putting the funds directly into bitcoin.
Higher volumes in the futures market suggests growing interest from sophisticated traders who wish to hedge or speculate on price movements.
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.