Bitcoin hits new 10-week high as Trump demands rate cut on US jobs beat

Key points:

• The US labor market is “still holding up” as nonfarm payrolls data comes in higher than expected.

• Bitcoin and stocks head higher as US President Donald Trump repeats calls for the Fed to lower interest rates.

• BTC price action may spark a “liquidity grab” above $97,000, a trader warns.

Bitcoin (BTC) hit new multimonth highs after the May 2 Wall Street open as US nonfarm payrolls data beat expectations.

BTC/USD 1-hour chart.