š° We just heard that employment was strongāso why is Bitcoin still at 75K? The Fed may matter more than the jobs data this time
We talked about this just a couple of days ago, and now thereās a new development. The U.S. added 165,000 nonfarm payroll jobs in October, and the unemployment rate was 4.1%, in line with expectations. In theory, this should boost market sentiment, but Bitcoin is still hovering around 75K. Why arenāt the bulls buying it? It may be because the market is waiting for signals from the Fedās December meeting.
This jobs report is an important reference point for the Fedās December rate decision, but the market is more focused on betting on rate-cut expectations. If the Fed signals a rate cut before the end of the year, Bitcoin may find support above 75K; if it continues to emphasize tight policy, Bitcoin could fall to 72K. This is all about capital flows: whether ETF inflows can continue depends on the Fedās stance this time.
Impact on the market
In the short term, the in-line jobs data has a more direct impact on ETH, because institutional investors are more focused on whether the U.S. economy is overheating. But both BTC and ETH are fluctuating around -0.1%, suggesting that capital is waiting for clearer signals. If the Fed clearly signals a rate cut at its December meeting, Bitcoin could break through 77K. But this outlook would be invalidated if U.S. inflation rebounds more than expected.
š” Why bullish? If the Fed signals a rate cut in December, Bitcoin could find support above 75K and rebound to 77K.
This article is not sponsored by any project, and the author does not hold any of the assets mentioned.
ā ļø This is not investment advice. Forecasts are for reference only.
#JobsReportRaisesHikeOdds
$BTC $ETH $BNB
We talked about this just a couple of days ago, and now thereās a new development. The U.S. added 165,000 nonfarm payroll jobs in October, and the unemployment rate was 4.1%, in line with expectations. In theory, this should boost market sentiment, but Bitcoin is still hovering around 75K. Why arenāt the bulls buying it? It may be because the market is waiting for signals from the Fedās December meeting.
This jobs report is an important reference point for the Fedās December rate decision, but the market is more focused on betting on rate-cut expectations. If the Fed signals a rate cut before the end of the year, Bitcoin may find support above 75K; if it continues to emphasize tight policy, Bitcoin could fall to 72K. This is all about capital flows: whether ETF inflows can continue depends on the Fedās stance this time.
Impact on the market
In the short term, the in-line jobs data has a more direct impact on ETH, because institutional investors are more focused on whether the U.S. economy is overheating. But both BTC and ETH are fluctuating around -0.1%, suggesting that capital is waiting for clearer signals. If the Fed clearly signals a rate cut at its December meeting, Bitcoin could break through 77K. But this outlook would be invalidated if U.S. inflation rebounds more than expected.
š” Why bullish? If the Fed signals a rate cut in December, Bitcoin could find support above 75K and rebound to 77K.
This article is not sponsored by any project, and the author does not hold any of the assets mentioned.
ā ļø This is not investment advice. Forecasts are for reference only.
#JobsReportRaisesHikeOdds
$BTC $ETH $BNB
