#JobsReportRaisesHikeOdds
🚨 US JOBS REPORT STRENGTHENS DECEMBER FED HIKE BETS — PRESSURE ON CRYPTO
🇺🇸 U.S. employers added 165K jobs in October, far above the 65K forecast, while unemployment fell to 4.1%. Wage growth also came in slightly hotter than expected.
📉 For crypto, the message is relatively clear: a stronger labor market gives the Fed more room to keep monetary policy tight. Markets increased expectations for a December rate hike, while Bitcoin initially slipped after the data before recovering much of the move.
💭 Trader view: Higher rates, stronger yields and a firmer dollar can create short-term headwinds for BTC and other risk assets. However, the next CPI and PPI reports could be just as important in determining the Fed’s next move.
🔎 Bottom line: Bearish for crypto in the short term, mainly because stronger economic data reduces expectations for easier monetary policy.
#Bitcoin #Crypto #FederalReserve #JobsReport
$AIN $BULLA $AT
🚨 US JOBS REPORT STRENGTHENS DECEMBER FED HIKE BETS — PRESSURE ON CRYPTO
🇺🇸 U.S. employers added 165K jobs in October, far above the 65K forecast, while unemployment fell to 4.1%. Wage growth also came in slightly hotter than expected.
📉 For crypto, the message is relatively clear: a stronger labor market gives the Fed more room to keep monetary policy tight. Markets increased expectations for a December rate hike, while Bitcoin initially slipped after the data before recovering much of the move.
💭 Trader view: Higher rates, stronger yields and a firmer dollar can create short-term headwinds for BTC and other risk assets. However, the next CPI and PPI reports could be just as important in determining the Fed’s next move.
🔎 Bottom line: Bearish for crypto in the short term, mainly because stronger economic data reduces expectations for easier monetary policy.
#Bitcoin #Crypto #FederalReserve #JobsReport
$AIN $BULLA $AT
