The jobs data came in at more than DOUBLE expectations, and crypto is now trading a rate hike, not a cut.
Weekend macro digest for $BTC, $ETH and $SOL:
1. US October payrolls: +165,000 vs roughly 65–70k expected, unemployment down to 4.1%. Treasury yields climbed, with the 10-year near 4.89%, and futures-implied odds of a December Fed hike rose to about 77% (CoinDesk).
2. Thursday's equity rout (Nasdaq down more than 5% on AI-slowdown fears and hedge fund deleveraging) dragged crypto with it. Morgan Stanley flagged a 5% one-day drop in hedge fund net leverage.
3. Friday stocks bounced a little and BTC went flat. CoinDesk had it dipping to $75,400, its weakest since the mid-September hike.
Where we are on Binance spot right now:
BTC $76,195, +0.67% in 24h, range $74,888–$76,378, -1.79% on the week
ETH $2,250, +1.04% in 24h, roughly flat on 7 days (-0.21%)
SOL $90.33, -5.46% on 7 days, the weakest of the majors
STRK +4.74% in 24h, but on just ~$2.9M volume, so treat that move with caution
My read: as long as yields keep rising and a hike stays priced, risk assets stay on a short leash. The $75,000 area on BTC is the level to watch. Lose it and we're back at mid-August prices. Weekend liquidity is thin, so wicks can get exaggerated.
Are you de-risking ahead of the December Fed meeting, or buying the fear?
Not financial advice.
#CryptoNews #Macro #Bitcoin
Weekend macro digest for $BTC, $ETH and $SOL:
1. US October payrolls: +165,000 vs roughly 65–70k expected, unemployment down to 4.1%. Treasury yields climbed, with the 10-year near 4.89%, and futures-implied odds of a December Fed hike rose to about 77% (CoinDesk).
2. Thursday's equity rout (Nasdaq down more than 5% on AI-slowdown fears and hedge fund deleveraging) dragged crypto with it. Morgan Stanley flagged a 5% one-day drop in hedge fund net leverage.
3. Friday stocks bounced a little and BTC went flat. CoinDesk had it dipping to $75,400, its weakest since the mid-September hike.
Where we are on Binance spot right now:
BTC $76,195, +0.67% in 24h, range $74,888–$76,378, -1.79% on the week
ETH $2,250, +1.04% in 24h, roughly flat on 7 days (-0.21%)
SOL $90.33, -5.46% on 7 days, the weakest of the majors
STRK +4.74% in 24h, but on just ~$2.9M volume, so treat that move with caution
My read: as long as yields keep rising and a hike stays priced, risk assets stay on a short leash. The $75,000 area on BTC is the level to watch. Lose it and we're back at mid-August prices. Weekend liquidity is thin, so wicks can get exaggerated.
Are you de-risking ahead of the December Fed meeting, or buying the fear?
Not financial advice.
#CryptoNews #Macro #Bitcoin