Just saw the White House economic adviser, Hassett, say that he isn’t worried about the nonfarm payrolls report. Although government jobs are fewer, employment in other industries is increasing. This jobs data looks stronger than expected.
If this employment data keeps proving strong, it could make the Federal Reserve more determined to maintain its stance of keeping interest rates high. As for the crypto market—high interest rate environments are usually not good; the pressure from funding costs is higher. $BTC $ETH These major coins may face short-term pressure, and market risk appetite is likely to decline.
But this also suggests that the overall U.S. economy is still holding up and it hasn’t reached a point of a hard landing. In the long run, it may not be all bad.
#Binance #币安 # Bitcoin ETF
If this employment data keeps proving strong, it could make the Federal Reserve more determined to maintain its stance of keeping interest rates high. As for the crypto market—high interest rate environments are usually not good; the pressure from funding costs is higher. $BTC $ETH These major coins may face short-term pressure, and market risk appetite is likely to decline.
But this also suggests that the overall U.S. economy is still holding up and it hasn’t reached a point of a hard landing. In the long run, it may not be all bad.
#Binance #币安 # Bitcoin ETF