Big US jobs surprise today 🇺🇸
The US economy added 165,000 jobs in October — far above the roughly 65,000 economists expected. Unemployment slipped to 4.1% from 4.2%, and wages rose 3.1% over the year.
What could this mean for crypto and gold?
A jobs market this strong gives the Federal Reserve more room to focus on inflation — and most forecasters now expect the Fed to raise rates by a quarter-point in December. Higher rate expectations usually put pressure on Bitcoin and gold in the short term, and that is what we saw right after the release: Bitcoin slipped from about $76,040 to $75,750 within minutes, and gold (PAXG) eased from about $4,049 to $4,032, before both steadied.
This is not a buy or sell call — one jobs report does not decide the trend. But it does raise the stakes for next Tuesday's inflation report, which the Fed will watch before its December meeting.
Analysis Only — Not Financial Advice (NFA). Trading involves risk.
Follow Profit Direction for more signals, best signals and market updates. Share your opinion in the comments.
Do you think this strong jobs report will push BTC down, or will buyers step in?
#CryptoNews #Bitcoin #Gold #NFP
The US economy added 165,000 jobs in October — far above the roughly 65,000 economists expected. Unemployment slipped to 4.1% from 4.2%, and wages rose 3.1% over the year.
What could this mean for crypto and gold?
A jobs market this strong gives the Federal Reserve more room to focus on inflation — and most forecasters now expect the Fed to raise rates by a quarter-point in December. Higher rate expectations usually put pressure on Bitcoin and gold in the short term, and that is what we saw right after the release: Bitcoin slipped from about $76,040 to $75,750 within minutes, and gold (PAXG) eased from about $4,049 to $4,032, before both steadied.
This is not a buy or sell call — one jobs report does not decide the trend. But it does raise the stakes for next Tuesday's inflation report, which the Fed will watch before its December meeting.
Analysis Only — Not Financial Advice (NFA). Trading involves risk.
Follow Profit Direction for more signals, best signals and market updates. Share your opinion in the comments.
Do you think this strong jobs report will push BTC down, or will buyers step in?
#CryptoNews #Bitcoin #Gold #NFP
