Can markets trust the jobs report? Another revision risk hangs over Bitcoin’s macro test
CryptoSlate
A surprisingly strong US jobs report tests Bitcoin's market resilience as traditional exchanges remain closed for the holiday weekend.Summary
The US Bureau of Labor Statistics reported a surprising gain of 178,000 jobs in March, far exceeding expectations. Because traditional financial markets were closed for Good Friday, Bitcoin served as the primary venue for price discovery regarding this macro-economic data. While the jobs growth was significant, analysts remain cautious due to recent patterns of downward revisions in government data and ongoing geopolitical uncertainties. Bitcoin’s relatively flat reaction suggests market participants are waiting for traditional institutions to return on Monday to provide a definitive assessment of the Federal Reserve’s future interest rate trajectory.
(Source：CryptoSlate)