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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/will-feds-decision-impact-crypto-prices" data-wpel-link="internal" rel="noopener noreferrer nofollow">Will Fed’s Decision Impact Crypto Prices?</a><br></p>
<p style="text-align: justify">The Federal Reserve is poised to announce an anticipated interest rate cut of 25 basis points. The trajectory of this rate-cutting cycle hinges on the recovery of the labor market data. In the event that unemployment remains elevated, the Fed may feel compelled to expedite its approach toward achieving a neutral interest rate. What implications do the latest figures hold for the cryptocurrency sector?</p>
<h2 style="text-align: justify" id="what-do-recent-labor-figures-indicate">What Do Recent Labor Figures Indicate?</h2>
<p style="text-align: justify">In the final week of October, initial jobless claims increased by 3,000, totaling 221,000. This aligns closely with market predictions of 222,000, suggesting a sense of stability within the labor market. Concurrently, <a href="https://en.bitcoinhaber.net/bitcoins-potential-ascent-to-170000-predicted-by-market-analyst" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>‘s value fluctuated near $74,800, having recently peaked at $76,400, marking a new all-time high.</p>
<h2 style="text-align: justify" id="how-stable-is-the-us-labor-market">How Stable is the US Labor Market?</h2>
<p style="text-align: justify">The labor market exhibits continued flexibility, according to an announcement from the US Department of Labor. Despite a minor increase in claims, the numbers remain below monthly averages, indicating a stable labor environment. The four-week moving average decreased by 9,750, while unadjusted initial claims rose by 10,827, reflecting a mixed regional performance.</p>
<p style="text-align: justify">Key takeaways from the labor data include:</p>
<ul>
 <li>Initial jobless claims rose but remain below monthly averages.</li>
 <li>Bitcoin prices reached a new ATH, indicating investor confidence.</li>
 <li>Outstanding compensation claims reached a three-year high, signaling potential economic stress.</li>
</ul>
<p style="text-align: justify">The relationship between the Fed’s upcoming decisions and the cryptocurrency market suggests that ongoing labor statistics will play a vital role in shaping market sentiments. As the Fed navigates its monetary policy, attention will remain focused on how these developments influence cryptocurrencies in the coming days.</p>
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/will-feds-decision-impact-crypto-prices" data-wpel-link="internal" rel="noopener noreferrer nofollow">Will Fed’s Decision Impact Crypto Prices?</a></h5>

Will Fed’s Decision Impact Crypto Prices?

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