According to ChainCatcher, the US Bureau of Labor Statistics reported that seasonally adjusted nonfarm payrolls increased by only 57,000 in June, well below the market expectation of 110,000. The previous month's figure was revised downward from 172,000 to 129,000. The data points to a significant cooling in the labor market, reinforcing expectations of an economic slowdown.
The disappointing payrolls number may prompt the Federal Reserve to adopt a more dovish stance at upcoming meetings, with rate cut expectations rising. However, short-term risk aversion could increase, putting pressure on crypto assets. Bitcoin and other risk assets may be dragged by macro sentiment. Traders should monitor capital flow changes in the coming days.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan.