Bitcoin (BTC) and ether (ETH) responded positively following Tuesday’s Job Openings and Labor Turnover Survey (JOLTS) data, each increasing close to 2% during the hour of release. The report showed that job openings in the United States declined to 9.6 million in March, below expectations of 9.775 million, and their lowest level since April 2021. Crypto market observers have recently considered weakening jobs data as positive for asset prices because: The Federal Reserve will continue to raise interest rates until it feels comfortable inflation has calmed. Interest rate increases are a negative for asset prices (crypto included). Labor markets must cool for inflation to decline. In short, “bad” employment data is “good” for markets, at least in the current environment. In
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