Good news for the American worker came at the worst possible moment for Bitcoin. Initial jobless claims fell by 4,000 to 226,000 for the week ending June 13. Layoffs are in the historically low range they've held for most of the post-pandemic era, and the unemployment rate has remained at 4.3% for a third straight […]
The post Why a resilient jobs market keeps turning into a Bitcoin sell signal appeared first on CryptoSlate.
At 10 a.m. ET on Tuesday, the Bureau of Labor Statistics releases its Job Openings and Labor Turnover Survey for April, and a market that spent years branding Bitcoin as an escape hatch from central banks now hangs on whatever the numbers imply about the Federal Reserve's next move. This is due to a long […]
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At 8:30 on a Friday morning, the Bureau of Labor Statistics dropped one of the more surprising jobs reports of the past year. The US economy added 178,000 jobs in March, and the unemployment rate ticked down to 4.3%. When put against a Wall Street consensus calling for roughly 57,000 nonfarm payrolls, the number was […]
The post Can markets trust the jobs report? Another revision risk hangs over Bitcoin’s macro test appeared first on CryptoSlate.
Bitcoin is trading like a rates product now because real yields are the new “gravity” Earlier this month, we saw the macro picture shift in a very real and tangible way. The record of last year's job level changed significantly, and markets treated that update as fresh information to trade on. Two days later, inflation […]
The post 862k jobs vanished, CPI cooled, and Bitcoin now trades like a bond – What Would Satoshi Say? appeared first on CryptoSlate.
Bitcoin price hovers near the $43,000 level. Do bulls have plans to press BTC higher?