updraftplus domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131hustle domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131wpforms-lite domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131The U.S. jobs report has come in stronger than expectations, signaling that the labor market may be stabilizing even amid the U.S.-Iran war. Bitcoin dropped following the data release as traders cut their bets on Fed rate cuts this year. Ad Ad U.S. Jobs Report Comes In Strong, Bitcoin Falls The latest Bureau of Labor
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]]>The February U.S. jobs report signals that the labor market remains weak, with nonfarm payrolls falling short of estimates by a wide margin while the unemployment rate rose. Bitcoin briefly rose on the back of this data release, which strengthens the case for more rate cuts, a positive for the leading crypto and the broader
The post U.S. Jobs Report: Nonfarm Payrolls Fall By 92k, Bitcoin Falls appeared first on CoinGape.
]]>The crypto market is flashing multiple red alerts for a potential crash, with significant ETF outflows and selloffs by Trump-linked World Liberty Financial and Mike Novogratz’s Galaxy Digital. Traders are turning cautious ahead of Bitcoin (BTC), Ethereum (ETH), and XRP options expiry and US Nonfarm Payrolls data today. Analysts caution that these factors may lead
The post Crypto Market Crash Alert: Institutions Trap Retail Ahead of BTC, ETH, XRP Options Expiry & Nonfarm Payrolls appeared first on CoinGape.
]]>The January U.S. Jobs report has come in strong, signaling that the labor market is indeed rebounding. Notably, nonfarm payrolls came in well above expectations, crushing expectations for a rate cut anytime soon. However, Bitcoin sharply climbed above $67,000 despite the strong jobs data. U.S. Jobs Report Comes In Strong, Bitcoin Climbs Above $67,000 Bureau
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]]>Bitcoin plunges to $66K levels as crypto traders brace for critical US jobs and unemployment rate data release on Wednesday. US dollar and Treasury yields waver as Wall Street expects a rise in US Nonfarm payrolls, which could erase the odds of a Fed rate cut in June. Market participants are closely watching as the
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]]>Wall Street estimates Nonfarm payrolls in the United States to come in at 50K in September, up from 22K in August. Moreover, the US unemployment rate is projected to hold steady at 4.3%. Crypto market participants brace for volatility amid job growth and a significant drop in Fed rate cut odds in December. Wall Street
The post Crypto Market Braces as Wall Street Sees Rise in Nonfarm Payrolls appeared first on CoinGape.
]]>The latest nonfarm payrolls data shows a surge in the US employment rate for December. Meanwhile, the unemployment rate also came in lower than expected. These macroeconomic figures could significantly impact Bitcoin and the broader crypto market.
The Labor Department data shows that the total nonfarm payroll employment increased by 256,000 in December, beating the estimates of 160,000. This once again represents a strong US job data after an increase to 227,000 in November.
The unemployment rate dropped to 4.1%, as against the expected 4.2%, recorded in November. Following the release of this nonfarm payrolls report, traders are now betting against a first-half rate cut from the Federal Reserve.
These traders predict that there will only be one Fed rate cut this year, which is unlikely to come earlier than June. This development presents a bearish outlook for the Bitcoin price, considering how this macro data could play out in the minds of investors.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
A massive 19,000 Bitcoin (BTC) options are set to expire before the release of US Nonfarm Payrolls (NFP) data release today. The BTC price is showing some volatility taking a dive to $91,380 levels earlier today before recovering back above $94,000. A drop in Bitcoin funding rate and exchange volume hints at volatility in the short-term. In addition, a massive 141,000 ETH options will also expire today.
A total of 19,000 Bitcoin options expired this week with a notional value of $1.81 billion. The BTC options expiry has a put-call ratio of 0.65, a maximum pain point of $97,000, hinting that the bullish bias continues despite the price decline, per the data from Deribit exchange.
The expiration occurred against the backdrop of a sharp pullback in the broader market, driven by weakness in U.S. equities and unfavorable macroeconomic conditions. Bitcoin price briefly dipped below $91,000, marking its lowest level in nearly a month. This decline comes along with a sharp surge in short-term implied volatility (IV) for BTC options, thereby hinting at market panic and uncertainty.
The crypto market is bracing for some macro headwinds such as Nonfarm Payrolls (NFP) data on Friday, US CPI data release on Jan 15, and the FOMC meeting later this month. Some Wall Street analysts are optimistic about Bitcoin price recovery along with a surge in the global M2 money supply.
Along with BTC options data, Bitcoin short-term indicators flash concerns showing weakness for the world’s largest crypto asset class. A key metric, Hot Capital—representing capital revived over the past seven days—has plummeted 66.7%, dropping from its December 12 peak of $96.2 billion to $32.0 billion.
Similarly, the 30-day average of Bitcoin exchange volume has now dropped to the 365-day average showing a sharp drop in capital flows since the all-time high of $108K in December. The 7-day moving average of the mean funding rate, along with rates from the top three perpetual markets, remains below the neutral threshold of 0.01%.
This reflects a persistent lack of demand from aggressive buyers, even after the brief rally to $102,000. As of press time, BTC price is trading 1.28% up at $94,517 levels with a market cap of $1.87 trillion.
A total of 141,000 Ethereum (ETH) options expired today, carrying a notional value of $460 million. The contracts closed with a Put/Call ratio of 0.48, signaling a bullish skew in market sentiment. The Max Pain point for the expiration was recorded at $3,450, highlighting a key price level for traders and market makers.
Along with Bitcoin, the Ethereum price faced strong selling pressure and is trying to establish support at $3,300. According to the recent analysis from Glassnode, Ethereum (ETH) futures open interest (OI) is following a pattern similar to Bitcoin (BTC).
The mid-term trendline for ETH futures OI peaked in mid-December before experiencing a decline. However, the short-term trendline has since rebounded, indicating that traders are reopening positions after an initial reduction. Additionally, the Ethereum whale buying can provide further support to the upside.
On Friday, the Bureau of Labor Statistics (BLS) will publish the much-awaited US Nonfarm Payrolls (NFP) data for December 2024. This jobs report will be critical in deciding the next direction of US Dollar giving some insights into future rate cuts by the Fed.
Economists predict the December Nonfarm Payrolls report to reveal an addition of 160,000 jobs to the U.S. economy. Furthermore, the unemployment rate is likely to stay at 4.2%. Amid stick inflation, the Fed has already hinted that they would move slowly with interest rate cuts this year. While reviewing the December employment situation, analysts at TD Securities said:
“We expect payroll growth to cool down closer to trend in December following the October-November gyrations that were triggered by one-off shocks. The UE rate likely stabilized at 4.2% despite our expectation for a meaningful rebound in the household survey’s employment series. Separately, we look for wage growth to mean-revert to 0.1% m/m following a string of hot monthly prints”.
Also, the dollar index (DXY) remained above the 109 level while US 10-year Treasury yields hovered around 4.7%, reflecting the Federal Reserve’s hawkish shift.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
The unexpected strength in the labor market presents a dilemma for the Federal Reserve. Policymakers are grappling with the question of whether to raise interest rates further to cool the economy and combat rising inflation.
In a welcome development for the US economy, the Labor Department released its monthly Employment Situation Report, revealing that nonfarm payrolls surged by an impressive 336,000 in September.
The standout feature of the September jobs report is that the increase in nonfarm payrolls surpassed the Dow Jones consensus estimate of 170,000 by a considerable margin. This positive development was even more striking when compared to the previous month.
August saw an increase of around 100,000 jobs, making September’s gain of 336,000 a substantial leap forward. This steady progress is a promising sign for both job seekers and the broader economic recovery.
While the increase in nonfarm payrolls was undoubtedly a positive sign, wage growth appeared softer than anticipated. Average hourly earnings inched up by 0.2% for the month and 4.2% from a year ago, falling short of respective estimates of 0.3% and 4.3%.
From a sector perspective, the leisure and hospitality sector saw the most substantial job gains in September, with 96,000 new jobs added. Other sectors that experienced growth included government (73,000 jobs), healthcare (41,000 jobs), and professional, scientific, and technical services (29,000 jobs).
Service-related industries played a significant role in the overall job growth, contributing 234,000 jobs, while goods-producing industries added just 29,000 jobs. Average hourly earnings in the leisure and hospitality industry remained flat for the month but showed a year-over-year increase of 4.7%.
The unexpected strength in the labor market presents a dilemma for the Federal Reserve. Policymakers are grappling with the question of whether to raise interest rates further to cool the economy and combat rising inflation. While there have been mixed messages from Fed officials, the consensus seems to lean toward maintaining higher rates for a more extended period.
Ian Lyngen, head of US rates strategy at BMO Capital Markets, commented:
“Overall, it was a stronger-than-expected print without question — moderating wage growth is good news for the Fed but nothing that will prevent them from hiking in November.”
This sentiment aligns with the market’s expectation of a potential quarter-point rate hike on November 1st, as indicated by Lyngen.
The release of the strong jobs data had an immediate impact on the US Treasury yields. The yield on the 10-year Treasury rose by nearly 13 basis points to 4.839%, nearing a 16-year high. Earlier in the week, it had briefly surged to 4.884%, reflecting investors’ concerns about the potential for tighter monetary policy.
The 2-year Treasury yield was last trading at 5.14%, up more than 11 basis points. It is essential to understand the inverse relationship between yields and bond prices. As yields rise, bond prices fall, which can have broad implications for various financial markets, including stocks and housing.
On the other hand, stock market futures turned sharply negative following the report, with the Dow futures down more than 250 points.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
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