Weak Jobs Data Fed Pivot
Weaker-than-expected employment data reduces Fed rate hike expectations, removing headwinds that have suppressed crypto valuations
Too little corroboration in the last 3 days to call a trend (30 articles). Watching for it to gain traction. It's spreading across BTC & SOL & ETH — a theme crossing asset classes.
Mainstream financial press is carrying this — attention has broadened beyond specialist outlets.
"Softer US producer inflation has eased near-term rate concerns, but crypto's muted response suggests that fresh spot demand remains limited. Bitcoin hovered near the $63,000 mark on Friday despite softer July CPI and PPI data as weak liquidity weighs on the crypto market."
"A softer number would push rate hike odds lower and give crypto another week of room. The July jobs miss already shifted sentiment when 23,000 positions were lost against 80,000 expected, and a friendly print could keep risk assets climbing."
"The July employment report missed badly, with the US economy losing 23,000 jobs against forecasts of roughly 80,000 gains, according to Yahoo Finance. That gap pushed futures markets toward a 56% chance of a Fed rate pause in September."
"The weak July jobs report eased rate hike expectations and gave ETH breathing room above $1,900."
"Buyers gained control on Tuesday, and the flagship cryptocurrency reached $64,891 on Friday (August 7), driven by a weaker-than-expected jobs report that eased concerns about another interest rate hike."
"The softer report pushed Treasury yields lower and helped the S&P 500 close at a record on Aug. 7. Ethereum benefited from the same change in risk appetite, although the weekend advance has since lost momentum."
"If the CPI data also shows that inflation is cooling, it will further reduce the odds of the Fed hiking rates and boost demand for risk-on assets like crypto and push market prices higher."
"The US economy lost 23,000 jobs in July, missing the 80,000 forecast by a margin that shifted rate expectations overnight and sent Bitcoin above $65,000 as August hike odds collapsed."
"Bitcoin jumped above $65,000 after the July jobs report missed expectations by a wide margin... the miss shifted expectations away from another rate increase."
"A softer US employment reading also helped the wider risk-asset backdrop. Private employers added 44,000 jobs in July, below forecasts of about 70,000 and down from a revised 95,000 in June."