🚨 Crypto Market Update
The U.S. labor market delivered a major surprise as June Nonfarm Payrolls rose by just 57,000, far below the 110,000 expected by economists. Meanwhile, May's payroll figure was revised lower, reinforcing signs that hiring momentum is slowing.
The softer-than-expected jobs data quickly reshaped interest rate expectations, with CME FedWatch showing the probability of one or more Federal Reserve rate hikes by September falling from around 65% to 50%.
For crypto markets, easing rate expectations are often viewed as supportive for risk assets. Bitcoin remained resilient following the release as traders assessed whether weaker economic data could increase the likelihood of a more accommodative Fed in the months ahead.
Markets will now turn their attention to upcoming inflation data and Federal Reserve commentary for further clues on the direction of monetary policy.
$SOL
$BNB
$SUI
The U.S. labor market delivered a major surprise as June Nonfarm Payrolls rose by just 57,000, far below the 110,000 expected by economists. Meanwhile, May's payroll figure was revised lower, reinforcing signs that hiring momentum is slowing.
The softer-than-expected jobs data quickly reshaped interest rate expectations, with CME FedWatch showing the probability of one or more Federal Reserve rate hikes by September falling from around 65% to 50%.
For crypto markets, easing rate expectations are often viewed as supportive for risk assets. Bitcoin remained resilient following the release as traders assessed whether weaker economic data could increase the likelihood of a more accommodative Fed in the months ahead.
Markets will now turn their attention to upcoming inflation data and Federal Reserve commentary for further clues on the direction of monetary policy.
$SOL
$BNB
$SUI