Just got the delayed NFP report, and traders are scratching their heads 🤔. Headline job gains beat expectations at 64K vs. 50K. But don't cheer yet the details are messy. October saw a loss of 105K jobs, and the unemployment rate jumped to 4.6%.
The market had a classic "buy the rumor, sell the news" moment. Bitcoin spiked then dumped. Why? While the top-line number looks okay, the rising unemployment and slowdown in wage growth (avg. hourly earnings up just 3.5% YoY) signal underlying softness. It's a classic mixed bag.
The takeaway? This report alone likely doesn't force the Fed's hand for another quick cut. All eyes are now glued to tomorrow's CPI data for the real direction. The market's verdict: confusion, followed by "wait and see."
BTC
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