Impact of Non-Farm Data @Everyone
The non-farm data was released tonight, with 227,000 exceeding expectations.
Logically, this should be bearish, so why did BTC rise?
Because October's data was dragged down by hurricanes and the Boeing strike, resulting in fewer jobs.
Market participants have generally anticipated that November's data will exceed the baseline trend,
therefore it is not considered bearish.
At the same time, the unemployment rate increased somewhat.
Expected at 4.1%, but released at 4.2%, which is better than expected.
After the data release tonight, the likelihood of the Federal Reserve lowering interest rates in December has increased.
Overall positive, and combined with on-chain data, the risk is not high.
For non-volatile cryptocurrencies, be patient in holding.
The non-farm data was released tonight, with 227,000 exceeding expectations.
Logically, this should be bearish, so why did BTC rise?
Because October's data was dragged down by hurricanes and the Boeing strike, resulting in fewer jobs.
Market participants have generally anticipated that November's data will exceed the baseline trend,
therefore it is not considered bearish.
At the same time, the unemployment rate increased somewhat.
Expected at 4.1%, but released at 4.2%, which is better than expected.
After the data release tonight, the likelihood of the Federal Reserve lowering interest rates in December has increased.
Overall positive, and combined with on-chain data, the risk is not high.
For non-volatile cryptocurrencies, be patient in holding.
