#nfpwatch
đš Bitcoin is getting a little relief from falling Treasury yields.
$BTC climbed roughly 1% to $84,800 as the U.S. 10-year yield dropped to 5.217%, after briefly touching 5.36% earlier in the session.
At the same time, market-implied odds of another Fed hike in October fell sharply to around 30%, down from roughly 70% earlier this week.
Now the big focus is Fridayâs September jobs report.
đ Expected payrolls: +90K
đ Expected unemployment: 4.1%
đ Jobless claims: 197K
A weaker jobs report could put further pressure on Treasury yields and reduce expectations for additional Fed tightening. A stronger number could have the opposite effect.
But the macro picture isnât simple.
đșđž U.S. yields are falling
đ«đ· French bond-market stress is rising
đąïž Brent is back above $100
đ U.S. manufacturing prices are accelerating
That leaves Bitcoin caught between easier rate expectations and renewed inflation/geopolitical pressures.
Meanwhile, $BTC enters Q4 after gaining 42.7% in Q3.
đ Fridayâs jobs data could be the next major test for the macro-driven move.
$BTC
#bitcoin #CryptoMarket #Fed #MacroEconomics
đš Bitcoin is getting a little relief from falling Treasury yields.
$BTC climbed roughly 1% to $84,800 as the U.S. 10-year yield dropped to 5.217%, after briefly touching 5.36% earlier in the session.
At the same time, market-implied odds of another Fed hike in October fell sharply to around 30%, down from roughly 70% earlier this week.
Now the big focus is Fridayâs September jobs report.
đ Expected payrolls: +90K
đ Expected unemployment: 4.1%
đ Jobless claims: 197K
A weaker jobs report could put further pressure on Treasury yields and reduce expectations for additional Fed tightening. A stronger number could have the opposite effect.
But the macro picture isnât simple.
đșđž U.S. yields are falling
đ«đ· French bond-market stress is rising
đąïž Brent is back above $100
đ U.S. manufacturing prices are accelerating
That leaves Bitcoin caught between easier rate expectations and renewed inflation/geopolitical pressures.
Meanwhile, $BTC enters Q4 after gaining 42.7% in Q3.
đ Fridayâs jobs data could be the next major test for the macro-driven move.
$BTC
#bitcoin #CryptoMarket #Fed #MacroEconomics
