BREAKING: US Non-Farm Employment Data Announced! Here’s Bitcoin’s (BTC) First Reaction!
Leading cryptocurrency Bitcoin was negatively affected by the tensions between Iran and Israel, briefly falling below $60,000.
While analysts state that the decline in Bitcoin may continue for a while, today the eyes of BTC and altcoins are turned to the Non-Farm Employment data to come from the USA, which is of great importance in terms of the FED’s interest rate cuts.
The data announced on the first Friday of each month is closely followed by investors and interested parties to understand the state of the economy.
The data disclosed is as follows:
Nonfarm Payrolls Data: 254k Announced vs 147k Expected vs 142k Previous
Unemployment data: Announced 4.1% – Expected 4.2% – Previous 4.2%
Bitcoin’s reaction after the data came was as follows:
What Did FED Chairman Jerome Powell Say?
Speaking at the National Association for Business Economics (NABE) Conference on Monday, Fed Chairman Jerome Powell said they will continue to rely on data and make decisions from meeting to meeting based on data.
Powell also said that if the economy develops as expected, there will be two more rate cuts this year, totaling 50 basis points.
*This is not investment advice.
