Labor Market Heats Up with 228K New Jobs in March, Far Exceeding Forecast

Bitcoin Holds Steady as Jobs Data Tops Forecasts and Tariff Fears Roil Markets

A stronger-than-expected U.S. jobs report on Friday added fresh fuel to an already chaotic market backdrop, as investors juggled encouraging labor data with rising anxiety over global trade tensions.

The Bureau of Labor Statistics reported 228,000 jobs were added in March—comfortably beating the expected 135,000 gain. February’s figure, however, was revised downward to 117,000. Unemployment ticked up slightly to 4.2%, aligning with forecasts.

Bitcoin (BTC), which has recently mirrored broader risk sentiment, showed a muted reaction. Prices hovered around $82,600 following the release, suggesting crypto markets may be digesting macro signals more calmly than equities.

The report lands just days after President Trump’s sweeping tariffs sent shockwaves through global markets. The Nasdaq suffered a brutal 6% drop on Thursday, and with China retaliating on Friday, futures for both the Nasdaq and S&P 500 point to deeper losses.

Gold remains a favorite haven, trading near all-time highs, while bond yields have fallen sharply — the 10-year Treasury yield hit 3.89% Friday morning, a full percentage point lower than at the start of Trump’s second term.

Amid the turmoil, bitcoin’s recent resilience is drawing attention. While still down from its January peak, BTC has held above $80,000 through a week of heavy equity selling — hinting at a potential decoupling from traditional risk assets.

Market focus now shifts to next week’s inflation report, which could shape the timing of the Federal Reserve’s next move. Traders have now priced in 116 basis points of rate cuts this year, with growing confidence that the first reduction will come in June.

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