Macro data from the US are once again clashing with each other.
And honestly, this is becoming a habit.
ISM in services is higher than forecast. The economy is holding up, demand is alive, the Fed has no urgent reason to cut rates. This does not make things any warmer for crypto.
However, jobless claims are sharply above expectations. The labor market is starting to cool down. Not a crash, not a recession. For now — a crack.
And this is where the most interesting part begins.
A strong economy says "we wait".
The labor market whispers "don’t drag it out".
The crypto market is currently not reacting to the report numbers; it is horrified by Bitcoin's plunge into the abyss.
If there are more reports on employment like this — ISM will convince no one anymore.
The only question is who will give in first.
#moon #MAN #Macro