Data from the U.S. Bureau of Labor Statistics indicates significant growth in employment in June, exceeding expert forecasts and impacting both the labor market and financial assets, including cryptocurrencies.
Increase in U.S. Jobs
According to the U.S. Bureau of Labor Statistics, non-farm payrolls rose by 147,000 in June, significantly exceeding the forecast of 110,000. This reflects the resilience of the American labor market against political uncertainties. Federal Reserve Chairman Jerome Powell noted that rate cuts might be reconsidered, stating that a rate cut in July '*is still under consideration.*'
Impact on Financial Markets and Cryptocurrencies
The increase in employment reduces expectations for near-term rate cuts, impacting investor sentiment. Cryptocurrencies, such as Bitcoin and Ethereum, face pressure as investors shift towards less speculative assets. This creates volatility in the markets.
Analysis of Current Crypto Trends
Bitcoin, currently trading at $109,733.24 with a market cap of $2.18 trillion, represents 64.43% of the total crypto market. It has increased by 4.09% over the last 30 days, although the 24-hour trading volume has dropped by 10.95%. Analysts highlight that regulatory changes could affect liquidity and trends in the crypto sector.
The U.S. labor market data has significantly influenced financial markets, posing additional challenges for cryptocurrencies. Investors continue to monitor economic signals that may shape future trends.
