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06/21 13:03Rialzista

Why a resilient jobs market keeps turning into a B

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Why a resilient jobs market keeps turning into a Bitcoin sell signal With layoffs near historic lows and unemployment holding at 4.3%, the odds of a Fed rate cut keep shrinking, and Bitcoin keeps paying the price. Weekly jobless claims fell to 226,000, unemployment held at 4.3%, and Bitcoin slid below $64,000. 02The stronger labor picture reduces Fed cut odds, keeping rates, real yields, and the dollar tighter against Bitcoin. 03Traders now await CPI, PCE, payrolls, and claims data to see whether easing hopes or hike risk wins out. Good news for the American worker came at the worst possible moment for Bitcoin. Initial jobless claims fell by 4,000 to 226,000 for the week ending June 13. Layoffs are in the historically low range they've held for most of the post-pandemic era, and the unemployment rate has remained at 4.3% for a third straight month. These numbers would look unambiguously healthy in almost any other setting. But Bitcoin didn't seem to agree and slid below $64,000, down almost 3% on the day, after touching an intraday high of $66,315 the previous afternoon. BTC spent the spring positioned as an asset waiting for the Federal Reserve to loosen financial conditions, and every reading showing a resilient labor market pushes that moment further into the future. When hiring holds and firing stays contained, the Fed keeps the room it needs to keep policy tight, and Bitcoin has spent two years trading as a liquidity-sensitive instrument that responds to the expected path of interest rates far more than to whether a given economic print sounds encouraging to the people inside it. Each of those labor numbers feeds directly into the market's running estimate of what the Fed will do next, which is how a weekly jobless claims report ended up affecting the crypto market.

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