🙋♂️ Hey guys.
The high open job numbers didn't please the market, talking about keeping an eye on the labor market back on Sunday, bitcoin fell 5% and here's why:
High JOLTS data is negative for stocks and cryptocurrencies because of:
1. Overheating economy : High job openings → wage growth → inflation 📈.
2. Tight Fed policy : Threat of rate hikes to fight inflation 💸.
3. Capital outflows: Investors choose safe assets (bonds) over risky assets 📉.
4. Profit decline: Companies' costs rise → margins fall 🤖📊.
This increases pressure on risk assets. 💼✨
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