đ Recent U.S. Jobs Report Blowout! The latest U.S. Nonfarm Payrolls (NFP) data showed a stronger-than-expected jobs gain â about 130,000 jobs added in January, well above forecasts of around 70,000, with the unemployment rate dipping to ~4.3%. While a blowout print, revisions to prior months showed that previous payrolls were weaker than initially reported.
đ Market Reaction: The solid jobs report has shifted expectations for the Federal Reserve keeping rates higher for longer, pushing back near-term rate-cut bets. This dynamic is challenging risk assets like crypto. Following the release, Bitcoin and many altcoins saw pullbacks as traders recalibrated their views on liquidity and interest rates.
đ Crypto Impact: Strong labor data = less urgency for rate cuts = dollar strength & tighter liquidity, which generally pressures crypto prices in the short term đ§đ.
đĄ My Take: The recent NFP data shows an economy thatâs still resilient but with underlying challenges. Crypto remains highly sensitive to macroeconomic cues đđ„.