Bitcoin

The robust September <a href="https://www.wsj.com/livecoverage/jobs-report-today-stock-market-dow-sp500-nasdaq-10-04-2024/card/solid-jobs-report-likely-closes-door-on-larger-november-rate-cut-26ci53zAylkVMKTdb2wp" rel="noopener noreferrer nofollow">US jobs report </a>has sparked discussions on its impact on the Federal Reserve’s interest rate. While industry experts anticipate a delay in the Fed’s interest rate cut, crypto analysts are anxious about its impact on the crypto market.According to the data released on Friday, the US labor market saw an additional 254,000 payrolls in September. This statistic is a positive indicator, especially as it exceeded the projected 150,000. The unemployment rate also unexpectedly dipped, reaching 4.1% from August’s 4.2%. In addition, US wage growth surged to 4% annually, marking an increase from last month’s 3.9%. Monthly wages rose by 0.4%, keeping pace with August’s report.The Wall Street Journal’s chief economics correspondent, Nick Timiraos, hinted at a possible slowdown in the Fed’s tightened monetary policy. Last month, the Fed <a href="https://cryptotale.org/bitcoin-eyes-100k-after-fed-rate-cut-sends-prices-past-62k/" rel="noopener noreferrer nofollow">announced</a> an interest rate reduction by 50 basis points (bps). The central bank cited mild inflation and a weakening labor market as the reason for the decision.Following the <a href="https://cryptotale.org/pboc-stimulus-and-us-fed-rate-cut-spark-crypto-market-surge/https://cryptotale.org/pboc-stimulus-and-us-fed-rate-cut-spark-crypto-market-surge/" rel="noopener noreferrer nofollow">Fed rate cut</a>, the crypto market witnessed a notable upward surge. Bitcoin and altcoins have seen notable growth, drawing anticipations from experts of a major bull run. Bitcoin <a href="https://coinmarketcap.com/" rel="noopener noreferrer nofollow">surged</a> past $65k while top altcoins like Ether, Solana, and BNB marked significant gains. As of press time, Bitcoin is trading at $62,153, marking a slight surge of 0.87% in a day but a notable dip of 5.4% in a week.<a href="https://cryptotale.org/how-will-the-september-us-jobs-report-impact-crypto-market/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

How Will the September US Jobs Report Impact Crypto Market?

CryptoTale

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