Bitcoin surges to two-week high on weak September jobs data, Fed rate cut bets
Key Takeaways
- Bitcoin reached a two-week high following weaker-than-expected private payroll data from ADP.
- Investors expect the Federal Reserve may cut interest rates sooner due to signs of economic softening.
Bitcoin rose to a two-week high of above $117,000 today following weaker-than-expected private payroll data from ADP, a payroll services provider, which strengthened expectations for Federal Reserve interest rate cuts.
The flagship cryptocurrency gained momentum as investors interpreted the disappointing jobs report as evidence of economic softening that could prompt more accommodative monetary policy. Risk assets typically benefit from lower interest rate environments due to increased market liquidity.
Recent labor market revisions have amplified fears of an economic slowdown, with cooling inflation metrics and declining labor participation strengthening the case for imminent Fed rate adjustments.
Historical patterns suggest cryptocurrencies often perform well during fall months, with current market sentiment aligning with policy-driven optimism. The combination of weakening economic indicators and seasonal trends has created a favorable environment for digital asset gains.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
TRON Ecosystem Enters a New Era of Decentralized Trading: SunPerp Launches Revolutionarily and Releases New Chinese Brand "孙悟空" (Sun Wukong)
The TRON ecosystem has launched its first decentralized perpetual contract exchange, SunPerp, which uses a hybrid architecture to achieve high-speed trading and on-chain fund custody. It has also released a Chinese brand named "Sun Wukong." Summary generated by Mars AI. This summary was generated by the Mars AI model, and its accuracy and completeness are still being iteratively improved.

Grayscale: The Credibility Crisis of Fiat Currencies and the Opportunities for Crypto Assets
This article summarizes the key points of the Grayscale Investment Report, which states that amid the continued disorderly expansion of U.S. public debt and rising bond yields, the credibility of the U.S. dollar is being challenged. This situation provides macro-level hedging value for crypto assets such as bitcoin and ethereum, driving them to become alternative stores of value.

Philanthropist or Predator? The Crypto Business of Global Top Influencer "MrBeast"
MrBeast's "two faces" in the crypto world

Vitalik Buterin and Dr. Xiao Feng jointly initiate the Ethereum Application Alliance (EAG), inviting global Ethereum builders to co-create a new paradigm of collaboration.
Xiao Feng and Vitalik jointly launched the "Ethereum Application Alliance" (EAG) initiative to promote the ecosystem's transition towards application-driven development.

Trending news
MoreCrypto prices
More








