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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/jolts-data-impacts-btc-surge" data-wpel-link="internal" rel="noopener noreferrer nofollow">JOLTS Data Impacts BTC Surge</a><br></p>
<p style="text-align: justify">In response to the recent release of labor market <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">data</a>, <a href="https://en.bitcoinhaber.net/decoding-bitcoins-four-year-cycle-a-forecast-for-2024" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC) saw a swift increase, rebounding from below $57,000. The JOLTS data, disclosed half an hour after the U.S. market opened on September 4, indicated a considerable downturn in job openings for July. This shift is expected to put more pressure on the Federal Reserve (<a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">Fed</a>) to consider rate cuts, with further data anticipated to be released on Friday.</p>
<h2 id="weakening-job-market-signals">Weakening Job Market Signals</h2>
<p style="text-align: justify">The U.S. reported 7.673 million job openings for July, significantly lower than the anticipated 8.1 million. This decline reflects a decrease in labor demand, which could influence the Fed’s decision-making process. Federal Reserve Chairman Jerome Powell may look into the possibility of a substantial 50 basis point rate cut in the upcoming September meeting to address this drop.</p>
<p style="text-align: justify">The lower-than-expected job openings data raises concerns ahead of the Non-Farm Payrolls report set to be released on Friday. Previous months have seen notable downward revisions in employment figures, prompting cautionary statements from Fed members about expected rate cuts.</p>
<h2 id="what-awaits-the-markets">What Awaits the Markets?</h2>
<p style="text-align: justify">The forthcoming Non-Farm Payrolls data could further amplify the likelihood of a significant rate cut, potentially favoring risk markets. September’s reputation as a bearish month for both stocks and cryptocurrencies compounds the uncertainty, with historical data showing consistent negative returns for BTC since 2013. The rate cut decision could convey a critical message about the Fed’s stance on the current economic situation.</p>
<h2 id="key-inferences-for-market-stakeholders">Key Inferences for Market Stakeholders</h2>
<p style="text-align: justify">• The JOLTS data’s lower-than-expected figures may lead to a swift response from the Fed, including potential rate cuts. <br> • Investors should watch for the Non-Farm Payrolls report on Friday, as it could significantly influence market movements. <br> • September’s historical performance for stocks and BTC suggests caution is warranted for traders. <br> • Statements from Fed members, particularly those indicating a preference for a 50 basis point cut, could signal market trends.</p>
<p style="text-align: justify">Atlanta Fed President Bostic recently commented that delaying the achievement of the 2% inflation target might result in unnecessary economic pain. He emphasized the current labor market decline and supported the potential for a 50bp rate cut. Should the unemployment and Non-Farm Payrolls data fall below expectations, positive movements in the crypto market might emerge when U.S. markets open on Friday.</p>
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/jolts-data-impacts-btc-surge" data-wpel-link="internal" rel="noopener noreferrer nofollow">JOLTS Data Impacts BTC Surge</a></h5>

JOLTS Data Impacts BTC Surge

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