Employment data is ridiculously strong, and crypto got absolutely wrecked.
U.S. nonfarm payrolls added 165,000 jobs in October, against expectations of just 65,000. The unemployment rate was 4.1%, and the previous two months were revised up by another 84,000 jobs—so strong that the odds of a Fed rate hike in December shot straight to 80%. The dollar surged, and $BTC plunged to 74762 on Friday, a 30-day low. It’s now at 75963, still grinding around the 30-day floor at 75775.
The most painful part: the better the data, the worse crypto gets. Strong employment = more confidence to hike rates = risk assets keep getting hammered. The weekly chart is one close away from a fifth straight down week, and October’s CPI report is waiting to twist the knife on Tuesday.
Pick a side: A) 75775 holds, so get in this weekend and bet on a rebound before CPI; B) Rate hikes looming overhead—if it breaks, look for 69000.
$BTC $ETH $SOL
#非农 #美联储 #Bitcoin
U.S. nonfarm payrolls added 165,000 jobs in October, against expectations of just 65,000. The unemployment rate was 4.1%, and the previous two months were revised up by another 84,000 jobs—so strong that the odds of a Fed rate hike in December shot straight to 80%. The dollar surged, and $BTC plunged to 74762 on Friday, a 30-day low. It’s now at 75963, still grinding around the 30-day floor at 75775.
The most painful part: the better the data, the worse crypto gets. Strong employment = more confidence to hike rates = risk assets keep getting hammered. The weekly chart is one close away from a fifth straight down week, and October’s CPI report is waiting to twist the knife on Tuesday.
Pick a side: A) 75775 holds, so get in this weekend and bet on a rebound before CPI; B) Rate hikes looming overhead—if it breaks, look for 69000.
$BTC $ETH $SOL
#非农 #美联储 #Bitcoin
