Reserve

Bitcoin

Impact

Grayscale Bitcoin Trust

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/us-data-and-federal-reserve-impact-on-markets/" data-wpel-link="internal">US Data and Federal Reserve Impact on Markets</a><br></p>
<p style="text-align: justify">Recent data from the US, supported by the Federal Reserve’s dovish outlook and Quick Rate Adjustment (QRA), has significantly altered the <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">market</a> outlook, leading to a rise in cryptocurrencies. While the employment data released on Friday fell below forecasts, Non-Farm Employment came in at 175,000 instead of the expected 240,000.</p> 
<h2 style="text-align: justify" id="federal-reserve-and-us-data">Federal Reserve and US Data</h2> 
<p style="text-align: justify">Contrary to expectations of a 3.8% unemployment rate, there was a slight increase to 3.9%.</p> 
<p style="text-align: justify">Monthly Average Hourly Earnings remained below the expected 0.3% rate, marking 0.2%. These figures suggest diminishing inflation concerns and will guide future monetary policies.</p> 
<p style="text-align: justify">Simultaneously, the dovish positions of the Federal Reserve and the Treasury have led to a dramatic shift in interest rate expectations, reducing US 2-year yields from over 5% to approximately 4.7%.</p> 
<p style="text-align: justify">Investors are now looking towards the next year, anticipating interest rate cuts. In this context, the money market may be moving towards a more optimistic view of a softer dollar.</p> 
<h2 style="text-align: justify" id="crypto-market-response">Crypto Market Response</h2> 
<p style="text-align: justify">The crypto market has provided positive feedback to the general market movements. Consequently, significant net inflows totaling $378.3 million occurred in Bitcoin spot Exchange Traded Funds (ETFs).</p> 
<p style="text-align: justify">The renewed interest in cryptocurrencies, especially with the Grayscale Bitcoin Trust (GBTC) hosting its first positive inflow, has drawn significant attention.</p> 
<h2 style="text-align: justify" id="retail-investors-and-altcoins-outlook">Retail Investors and Altcoins Outlook</h2> 
<p style="text-align: justify">Following the positive outlook on interest rate cuts from the latest market data, Bitcoin has reactivated towards its all-time high (ATH), yet individual <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">investors</a> continue to stay away from the markets, especially cryptocurrencies.</p> 
<p style="text-align: justify">This situation suggests that a potential market recovery for altcoins, expected to start after the summer months, could soon materialize.</p> 
<p style="text-align: justify">Historically, the return of individual investors to the market, as smaller altcoins began to gain value, indicated market activity in the crypto space.</p> 
<p style="text-align: justify">This pattern might still offer an opportunity for those looking to position themselves before larger investors enter the market.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-347878" src="https://coin-turk.com/wp-content/uploads/2024/05/Screenshot-2024-05-04-195517.png" alt="" width="723" height="1060"></p> 
<p style="text-align: justify">Moreover, according to one analyst (chart sharing and name above), altcoins’ market value is hinting at a technical formation that could soon trigger a significant <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">price</a> movement.</p> 
<p style="text-align: justify">Again, according to the analyst, the total <a href="https://en.coin-turk.com/three-altcoins-to-avoid-in-the-short-term/" data-wpel-link="internal">Altcoin</a> Market Value showing an inverse head and shoulders formation suggests a potential rise in market value, potentially initiating a move towards 4 trillion dollars.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/us-data-and-federal-reserve-impact-on-markets/" data-wpel-link="internal">US Data and Federal Reserve Impact on Markets</a></h5>

US Data and Federal Reserve Impact on Markets

Table of Contents

COINTURK NEWS

Other articles published on May 5, 2024

Jack Dorsey’s $21M Boost Fuels Bitcoin and Nostr Development

Solv Protocol Enhances SolvBTC with Babylon’s Restaking Yield Integration: A Major Leap for SOLV ...

Tomorrow: Watch Out for These 18 Altcoins – Comprehensive List of Potential Crypto Shifts (Includ...

Unveiling the Potential of Nidhi Kolhapur Coin (NK): A Game Changer in the Cryptocurrency Market

ALGO, AVAX, HNT, LINK Price Analysis: May 5

Trader Predicts Major Bull Runs for Dogecoin (DOGE) Based on Past Price Trends

Join our free newsletter for daily crypto updates!