#USJoblessClaimsRiseTo229K Hey folks, the data of 229,000 weekly jobless claims in the U.S. beats expectations and shows an upward trend. For the crypto world, this is crucial for two reasons:
1. Less bullish pressure on the Fed: A cooling labor market gives the Federal Reserve reasons to pause or even cut rates sooner than expected. Lower rates = more liquidity = potential rally for Bitcoin and the altcoins.
2. Double-edged sword: If the labor deterioration accelerates too much, we could be talking about a recession. There, fear takes over and investors flee to the dollar, impacting risk assets.
My strategy: No panic selling. Mixed data like this usually creates short-term volatility but reinforces the thesis that the Fed's pivot is near. Accumulating at support zones is the play.
What do you all think about this data? A signal of controlled weakness or a recession alarm?
1. Less bullish pressure on the Fed: A cooling labor market gives the Federal Reserve reasons to pause or even cut rates sooner than expected. Lower rates = more liquidity = potential rally for Bitcoin and the altcoins.
2. Double-edged sword: If the labor deterioration accelerates too much, we could be talking about a recession. There, fear takes over and investors flee to the dollar, impacting risk assets.
My strategy: No panic selling. Mixed data like this usually creates short-term volatility but reinforces the thesis that the Fed's pivot is near. Accumulating at support zones is the play.
What do you all think about this data? A signal of controlled weakness or a recession alarm?