U.S. releases unexpectedly 'hot' jobs report— is the crypto market bracing for headwinds?
The U.S. added 165,000 jobs in October, double the forecast! The unemployment rate also fell sharply to 4.1%, far exceeding all expectations. This solid labor market data is bolstering the likelihood of a Fed rate hike in December.
The Fed now has more reasons to focus on curbing inflation rather than worrying about a recession.
Higher interest rates are usually not good news for risk assets like $BTC and $ETH . Capital could shift elsewhere.
Could we see a major correction before the Fed's decision?
#Crypto #Fed #Bitcoin $BTC $ETH
The U.S. added 165,000 jobs in October, double the forecast! The unemployment rate also fell sharply to 4.1%, far exceeding all expectations. This solid labor market data is bolstering the likelihood of a Fed rate hike in December.
The Fed now has more reasons to focus on curbing inflation rather than worrying about a recession.
Higher interest rates are usually not good news for risk assets like $BTC and $ETH . Capital could shift elsewhere.
Could we see a major correction before the Fed's decision?
#Crypto #Fed #Bitcoin $BTC $ETH