đ NFP Impact on Crypto â October 2
The U.S. NFP report came in significantly weaker than expected, with only 29K jobs added versus ~90K forecast, while unemployment rose to 4.2%.
For crypto, the immediate reaction was supportive. Softer employment data reduced expectations of another near-term Fed rate hike, pushing Treasury yields lower and weakening the dollar. This improved the macro environment for risk assets, including Bitcoin.
Bitcoin climbed toward $86.8K, while the broader crypto market also rebounded.
Trader takeaway: NFP has shifted the focus toward Fed expectations, Treasury yields, and dollar direction. The next key catalyst is whether this weaker labor-market signal persists through upcoming U.S. inflation and economic data.
#NFPWatch #BitcoinFundingRateTriplesTo10% #BTC #ZcashFalls21%FromSeptemberPeak #BinanceSquare
#crypto
The U.S. NFP report came in significantly weaker than expected, with only 29K jobs added versus ~90K forecast, while unemployment rose to 4.2%.
For crypto, the immediate reaction was supportive. Softer employment data reduced expectations of another near-term Fed rate hike, pushing Treasury yields lower and weakening the dollar. This improved the macro environment for risk assets, including Bitcoin.
Bitcoin climbed toward $86.8K, while the broader crypto market also rebounded.
Trader takeaway: NFP has shifted the focus toward Fed expectations, Treasury yields, and dollar direction. The next key catalyst is whether this weaker labor-market signal persists through upcoming U.S. inflation and economic data.
#NFPWatch #BitcoinFundingRateTriplesTo10% #BTC #ZcashFalls21%FromSeptemberPeak #BinanceSquare
#crypto