This demonstrates the continued strength of the job market, marking the highest number of job additions since May 2023.

The unemployment rate also decreased to 3.8% in March, beating expectations of 3.9% and the previous month's rate of 3.9%.Following the release of the job report on Friday morning, the price of bitcoin dropped by approximately 0.5% to $66,000.
Meanwhile, U.S. stock index futures initially rose but later retreated slightly, though they still remained somewhat higher. Additionally, the 10-year U.S. Treasury yield increased by 6.5 basis points to 4.38%, and the dollar index rose by 0.5%.At the start of 2024, there were expectations in the market for as many as five or six rate cuts by the U.S. Federal Reserve, potentially beginning as early as March. However, economic data has not aligned with these expectations. Inflation has actually risen somewhat in the first quarter of the year, and job growth has remained strong.Despite previous expectations, there were no rate cuts in March.
Traders, prior to today's numbers, had shifted their expectations for the first rate cut to June or July, according to the CME FedWatch Tool. It's now anticipated that there will be just three rate cuts for the entire year, and even that might be excessive.Minneapolis Fed President Neel Kashkari recently suggested the possibility of no rate cuts at all in 2024. His comments led to a significant downturn in stocks, with major averages closing down more than 1%.
Following today's data release, swaps trading indicates that expectations for the first rate cut have been pushed out to September.Looking at other details in the report, the labor force participation rate increased to 62.7% from 62.5%, indicating a significant number of people returning to the workforce. Additionally, average hourly earnings rose by 0.3% in March, consistent with expectations and up from 0.2% in February. On a year-over-year basis, average hourly earnings increased by 4.1%, slightly lower than February's 4.3% rise.

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Bearish Signs Appear As BTC Unable to Claim $43K Successfully (Bitcoin Price Analysis)BTC$42,943.3 -0.43%After encountering a significant rejection at the $48K resistance level, Bitcoin has recently discovered support near the crucial 100-day moving average, prompting a slight retracement. However, if a pullback materializes, the most likely scenario would involve a renewed bearish leg, targeting significant support at $38K.📉Technical Analysis📉 📊Daily Chart📊Upon analyzing the daily chart, it becomes apparent that following Bitcoin's recent setback from the pivotal $48K level, the price sought support around a crucial range defined by the middle boundary of the ascending channel and the significant 100-day moving average at $39K.Consequently, a slight correction ensued, retracing the price toward the existing fair value gap, bounded within the $43,578 and $45,606 thresholds.This price range carries the potential to exert resistance against further selling pressure, maybe even propelling it back toward the substantial 100-day moving average. However, a breach below this critical moving average could lay the groundwork for a mid-term bearish trend.📶📊4-Hour Chart📊📶An examination of the 4-hour chart reveals a notable dip below the lower boundary of the ascending flag, leading the price to the static support zone encompassing $39K and the significant 0.5 level of Fibonacci retracement, resulting in a noteworthy reversal.Consequently, the price experienced a bullish surge, retracing towards a critical resistance marked by the lower boundary of the ascending flag.However, Bitcoin appears to be in the process of completing a pullback to the broken flag, setting the stage for a renewed bearish phase. Therefore, in the event of a successful pullback, the market should anticipate a mid-term descent towards the $38K significant support region. #TrendingArticle #viralpost #worldmarket #LearningIsImportant #learn&earn