BLS Cuts 911,000 From the Payroll, Shaking Bitcoin and Turning Investors to Bitcoin Hyper’s $14.8M Presale
The weakening of the job market shook Bitcoin for a minute, dropping it from above $113K to under $111K in less than a day.
As The Kobeissi Letter details, most job cuts were concentrated in consumer-driven areas like leisure, hospitality, trade, and utilities. In total, 880K jobs vanished from the private sector and 31K from the public one.
The numbers don’t lie. The revision exceeds 2009 levels and is outweighed only by the Great Depression.
Source: X/@KobeissiLetter
The news immediately impacted the $BTC price, spreading FUD – fear, uncertainty, and doubt. There’s an upside though. More eyes are now on the Bitcoin Hyper’s ($HYPER) $14.8M presale, which looks set for a fiery post-launch performance.
Will Bitcoin Survive the Revisionpocalypse?
Bitcoin contracted by almost $2K in less than 24 hours following the news, but is that representative of the coin’s path moving forward? No.
On the contrary, ‘asset owners will reap the rewards’, according to The Kobeissi Letter, which believes that rate cuts are imminent.
Source: X/@KobeissiLetter
— The Kobeissi Letter, on X.
History supports this point of view. The 1990–1991 recession saw the stock market crumble by 20%, but it bounced back a year later by 30%, following cheaper Fed credit rates.
A hiccup that is already dissipating. Bitcoin is once again testing $112K, eyeing its psychological barrier of $115K. A successful breach would validate the Fibonacci trend, pushing $BTC to $129K or above by the end of the year.
Source: TradingView
In the meantime, investors are flocking to Bitcoin Hyper’s $14.8M+ presale, which is eyeing a Q4 public release.
Why Bitcoin Hyper Could Transform the Bitcoin Ecosystem Forever
Bitcoin Hyper ($HYPER) is the Layer-2 solution to Bitcoin’s most pressing problems, including its performance limitation of seven transactions per second (TPS).
This places Bitcoin 24th on Chainspect’s list of the fastest blockchains by TPS. Solana occupies the second place with a max theoretical TPS of 65K.
Bitcoin Hyper aims to correct this problem with the help of tools like a Canonical Bridge and the Solana Virtual Machine (SVM).
The Canonical Bridge connects Bitcoin’s ecosystem to the Hyper Layer-2 and confirms incoming transactions with the help of the Bitcoin Relay Program. Once transactions go through, the bridge then mints your $BTC onto Hyper’s super-fast Layer-2 as wrapped $BTC.
Once your wrapped $BTC is on the Layer-2, the real fun begins. Swaps, NFTs, DeFi, and more will now be possible.
The SVM complements this system by enabling the lightning-fast execution of DeFi apps and smart contracts.
And whenever you’re ready, you can withdraw your wrapped $BTC back to Bitcoin’s native Layer-1.
Hyper Presale Frenzy
Hyper plans to push Bitcoin’s performance to Solana-level numbers, allowing for high throughput and scalability, and turning the network into a more viable option for retail investors.
It’s little wonder, then that the presale is seeing significant investor interest. It has already raised an impressive $14.8M+, buoyed by recent whale buys of $161.3K, $100.6K, and $50K.
$HYPER currently costs $0.012885 – and you can stake it for 75% APY. So now is the perfect time to invest, before the project goes public.
Ready to jump in? Start by taking a look at our how to buy $HYPER guide. Then head to the official $HYPER presale website and secure your tokens at today’s low price.
Looking Ahead
Bitcoin broke above $112K at the time of writing, which signals slow but sustained recovery. If it breaks $113K, we should see a run to $115K – and if it breaks that too, we could be looking at a new ATH, hopefully close to $129K.
In the meantime, though, you might want to consider diversifying your portfolio by adding Bitcoin Hyper’s ($HYPER). By the look of things, its successful $14.8M+ presale could merely be beginning of even greater things to come for this new token.
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