MACROECONOMICS IS CHANGING THE GAME—WHAT SHOULD WE EXPECT FROM BITCOIN?
I’m keeping an eye on macroeconomics and seeing the balance of power in the market shift. Fresh U.S. labor market data have noticeably lowered expectations of a Fed rate hike in October. Employment growth falling to 29,000 and unemployment rising to 4.2 percent suggest the central bank may ease off. The odds of another rate hike have fallen to 22 percent, while wage growth has slowed to its lowest level since spring 2021.
Analysts at QCP have identified $87,200 as a key level for Bitcoin. For the rally to continue, it’s crucial for the market to hold above this level. Ethereum, meanwhile, remains cautiously optimistic within the $2,650–$2,800 range.
Attention is now shifting to October 14, when new inflation data will be released. The CPI will show just how much price growth has really slowed. I’m waiting for the figures and watching to see whether Bitcoin can stay above its crucial threshold.
$BTC
$ETH
I’m keeping an eye on macroeconomics and seeing the balance of power in the market shift. Fresh U.S. labor market data have noticeably lowered expectations of a Fed rate hike in October. Employment growth falling to 29,000 and unemployment rising to 4.2 percent suggest the central bank may ease off. The odds of another rate hike have fallen to 22 percent, while wage growth has slowed to its lowest level since spring 2021.
Analysts at QCP have identified $87,200 as a key level for Bitcoin. For the rally to continue, it’s crucial for the market to hold above this level. Ethereum, meanwhile, remains cautiously optimistic within the $2,650–$2,800 range.
Attention is now shifting to October 14, when new inflation data will be released. The CPI will show just how much price growth has really slowed. I’m waiting for the figures and watching to see whether Bitcoin can stay above its crucial threshold.
$BTC
$ETH