The latest US non-farm payrolls data grew more than expected, but it was still the lowest since February this year, and the price of bitcoin did not fluctuate much. (Synopsis: Metaplanet launches Asia's largest bitcoin equity financing: target to buy $5.4 billion BTC has 1% supply) (Background supplement: BTC stock speculation God of War" Metaplanet jumped 1017% to become the best performing Japanese stock in 2024, can set off a wave of corporate bitcoin snapping? The US Department of Labor released the May non-farm payrolls data this evening (6), showing an increase of 139,000, although higher than the market expectation of 126,000, indicating that the market did not have the expected recession, but it was a sharp decrease from the previous month's 177,000 and the lowest since February this year. In the same month, the unemployment rate remained at 4.2 percent, while the labor force participation rate edged down to 62.4 percent. Fed Rate Cut Expectations and Economic Impact A slowdown in the labor market, often seen as a signal of slower economic growth, could reduce potential inflationary pressures. For the Fed, weak employment data, especially continued modest growth and downward revisions, may increase the likelihood that it will consider a rate cut at its July meeting. Bitcoin price changes After the release of the non-farm payrolls data, according to OKX platform data, bitcoin has a brief decline, but not obviously, as of writing, bitcoin is quoted at about $104,081, and the current intraday trend still shows a deep V-shaped reversal, highlighting the rapid shift in market sentiment. Related reports Can buying newly listed crypto companies increase 10 times? A paradigm shift for altcoins? Fruit shell article" Japan's Metaplanet buys Bitcoin! Analysis of the key reasons for the acquisition of BTC by "Asian version of MSTR" "U.S. non-farm payrolls higher than expected in May, bitcoin back $104,000" This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Blockchain News Media".
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The US non-farm payrolls in May exceeded expectations, and Bitcoin returned to 104,000 USD.
The latest US non-farm payrolls data grew more than expected, but it was still the lowest since February this year, and the price of bitcoin did not fluctuate much. (Synopsis: Metaplanet launches Asia's largest bitcoin equity financing: target to buy $5.4 billion BTC has 1% supply) (Background supplement: BTC stock speculation God of War" Metaplanet jumped 1017% to become the best performing Japanese stock in 2024, can set off a wave of corporate bitcoin snapping? The US Department of Labor released the May non-farm payrolls data this evening (6), showing an increase of 139,000, although higher than the market expectation of 126,000, indicating that the market did not have the expected recession, but it was a sharp decrease from the previous month's 177,000 and the lowest since February this year. In the same month, the unemployment rate remained at 4.2 percent, while the labor force participation rate edged down to 62.4 percent. Fed Rate Cut Expectations and Economic Impact A slowdown in the labor market, often seen as a signal of slower economic growth, could reduce potential inflationary pressures. For the Fed, weak employment data, especially continued modest growth and downward revisions, may increase the likelihood that it will consider a rate cut at its July meeting. Bitcoin price changes After the release of the non-farm payrolls data, according to OKX platform data, bitcoin has a brief decline, but not obviously, as of writing, bitcoin is quoted at about $104,081, and the current intraday trend still shows a deep V-shaped reversal, highlighting the rapid shift in market sentiment. Related reports Can buying newly listed crypto companies increase 10 times? A paradigm shift for altcoins? Fruit shell article" Japan's Metaplanet buys Bitcoin! Analysis of the key reasons for the acquisition of BTC by "Asian version of MSTR" "U.S. non-farm payrolls higher than expected in May, bitcoin back $104,000" This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Blockchain News Media".