Hiring slowdown could be great for bitcoin (BTC) — unless wages spoil the party
CoinDesk
A weakening U.S. labor market may boost bitcoin, but rising wage growth could complicate Federal Reserve policy and stifle potential rallies.Summary
The upcoming U.S. nonfarm payrolls report is expected to show a sharp slowdown in job growth, which could theoretically benefit bitcoin by encouraging the Federal Reserve to maintain steady interest rates. However, the market impact remains uncertain due to rising wage growth projections. If hourly earnings exceed expectations, persistent inflation concerns could force the Fed to reconsider its stance, potentially hindering risk assets like bitcoin despite lower hiring numbers. Analysts are monitoring the $75,000 price level as critical support for bitcoin amid these macroeconomic uncertainties and geopolitical tensions in the Strait of Hormuz.
(Source：CoinDesk)