BREAKING: US Non-Farm Payrolls and Unemployment Data Released! Here’s Bitcoin’s (BTC) Initial Reaction!
Global markets are exhibiting mixed trends due to risks related to the Strait of Hormuz and tensions between the US and Iran, while attention is focused on the non-farm payroll data to be released in the US today.
On the other hand, the leading cryptocurrency Bitcoin (BTC) and altcoins experienced a rapid recovery, but this recovery has stalled. While BTC continues to stay above $70,000, its direction and the Federal Reserve’s interest rate decisions, which are closely related to it, are being monitored.
The Fed, which kept interest rates unchanged in January, is expected to do so again in March. This scenario is priced in at 97.4%, while a 25 basis point cut is priced in at only 2.7%.
While it is highly likely that the Fed will keep interest rates unchanged, today the US Non-Farm Payrolls data, which is of great importance in the Fed’s interest rate decision, was released.
The data, released on the first Friday of each month, is closely watched by investors and stakeholders to understand the state of the economy.
The data released for January is as follows:
Non-farm payrolls Announced 92k – Expectation 58k – Previous 130k
Unemployment Announced 4.4% – Expected 4.3% – Previous 4.3%
Bitcoin’s reaction after the data was released was as follows:
*This is not investment advice.
Continue Reading: BREAKING: US Non-Farm Payrolls and Unemployment Data Released! Here’s Bitcoin’s (BTC) Initial Reaction!
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