Fed Rate Cut Hopes Rise: Bitcoin Price Doesn’t Follow
The post Fed Rate Cut Hopes Rise: Bitcoin Price Doesn’t Follow appeared on BitcoinEthereumNews.com. Welcome to the Asia Pacific Morning Brief—your essential digest of overnight crypto developments shaping regional markets and global sentiment. Monday’s edition is last week’s wrap-up and this week’s forecast, brought to you by Paul Kim. Grab a green tea and watch this space. Expectations for three interest rate cuts this year have returned to the market following a weakening US jobs report. Major US stock indices rallied, but Bitcoin’s price saw a relatively muted response. Jobs Report Worsens, Fuels Rate Cut Bets Sponsored Last week, Bitcoin (BTC) climbed 2.72% and Solana (SOL) rose 2.64%. However, Ethereum (ETH) underperformed, dropping 2.07% over the same period. Last week’s most closely watched event in the risk asset market was the Friday release of the US August non-farm payrolls (NFP) report. This key indicator can significantly influence US interest rates and overall market liquidity. Earlier, a surprisingly low NFP number of just 73,000 new jobs in July sparked fears of an economic crisis. These concerns prompted US Treasury Secretary Scott Bessent to suggest a 100 basis point rate cut this year, which helped propel Bitcoin to a new all-time high of $123,000. The August data proved weaker than July’s, with only 22,000 non-farm jobs added. Furthermore, a revision of the June data revealed a loss of 13,000 jobs, marking the worst performance since 2021. The unemployment rate also ticked up 0.1% to 4.3% from the previous month. While 4.3% is not a crisis level by historical standards, the dramatic slowdown in job growth is a concern. This suggests that the labor market could be at a turning point and may deteriorate rapidly. Sponsored According to the FedWatch Tool, the probability of three Fed rate cuts this year increased once again in response to the poor numbers. Bitcoin’s price quickly rebounded to the $113,000 level. However, Bitcoin failed…
The post Fed Rate Cut Hopes Rise: Bitcoin Price Doesn’t Follow appeared on BitcoinEthereumNews.com.
Welcome to the Asia Pacific Morning Brief—your essential digest of overnight crypto developments shaping regional markets and global sentiment. Monday’s edition is last week’s wrap-up and this week’s forecast, brought to you by Paul Kim. Grab a green tea and watch this space. Expectations for three interest rate cuts this year have returned to the market following a weakening US jobs report. Major US stock indices rallied, but Bitcoin’s price saw a relatively muted response. Jobs Report Worsens, Fuels Rate Cut Bets Sponsored Last week, Bitcoin (BTC) climbed 2.72% and Solana (SOL) rose 2.64%. However, Ethereum (ETH) underperformed, dropping 2.07% over the same period. Last week’s most closely watched event in the risk asset market was the Friday release of the US August non-farm payrolls (NFP) report. This key indicator can significantly influence US interest rates and overall market liquidity. Earlier, a surprisingly low NFP number of just 73,000 new jobs in July sparked fears of an economic crisis. These concerns prompted US Treasury Secretary Scott Bessent to suggest a 100 basis point rate cut this year, which helped propel Bitcoin to a new all-time high of $123,000. The August data proved weaker than July’s, with only 22,000 non-farm jobs added. Furthermore, a revision of the June data revealed a loss of 13,000 jobs, marking the worst performance since 2021. The unemployment rate also ticked up 0.1% to 4.3% from the previous month. While 4.3% is not a crisis level by historical standards, the dramatic slowdown in job growth is a concern. This suggests that the labor market could be at a turning point and may deteriorate rapidly. Sponsored According to the FedWatch Tool, the probability of three Fed rate cuts this year increased once again in response to the poor numbers. Bitcoin’s price quickly rebounded to the $113,000 level. However, Bitcoin failed…
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