🔥 Wall Street got softer inflation and stronger hiring on the same morning. Bitcoin couldn't decide what it meant...
#usadpadds90000jobsinseptember
ADP reported 90,000 private-sector jobs added in September, beating the 70,000 consensus.
Then the Fed's preferred inflation gauge delivered the opposite signal:
Core PCE: 3.0% YoY, 0.2% MoM.
Both were cooler than the market had expected on inflation, while employment remained stronger than expected.
Bitcoin initially ripped above $85,500 after the PCE release.
Then the move faded.
Why?
Because lower inflation can reduce pressure for another rate hike — but stubbornly high Treasury yields can still make non-yielding assets less attractive. CoinDesk reported the reversal as yields remained elevated.
That's the real battle:
Inflation is helping crypto.
Rates are still fighting it.
The next question is whether softer inflation eventually pulls long-term yields lower too.
One month's ADP and PCE data do not establish a durable change in the Fed's policy path or Treasury-yield trend. DYOR
$BTC $ETH $SOL
#USCorePCEEasesTo3%InAugust #CFTCSubmitsTwoEventContractRulesToWhiteHouse #crypto #BitcoinClears$85200
#usadpadds90000jobsinseptember
ADP reported 90,000 private-sector jobs added in September, beating the 70,000 consensus.
Then the Fed's preferred inflation gauge delivered the opposite signal:
Core PCE: 3.0% YoY, 0.2% MoM.
Both were cooler than the market had expected on inflation, while employment remained stronger than expected.
Bitcoin initially ripped above $85,500 after the PCE release.
Then the move faded.
Why?
Because lower inflation can reduce pressure for another rate hike — but stubbornly high Treasury yields can still make non-yielding assets less attractive. CoinDesk reported the reversal as yields remained elevated.
That's the real battle:
Inflation is helping crypto.
Rates are still fighting it.
The next question is whether softer inflation eventually pulls long-term yields lower too.
One month's ADP and PCE data do not establish a durable change in the Fed's policy path or Treasury-yield trend. DYOR
$BTC $ETH $SOL
#USCorePCEEasesTo3%InAugust #CFTCSubmitsTwoEventContractRulesToWhiteHouse #crypto #BitcoinClears$85200
