Insights

Bitcoin breaks $20k following NFP and unemployment data, as markets favour 25bps instead of 50bps

exchange68September 13, 2024

0 0 1 minute read

Quick Take

+311k jobs created vs. estimate of +205k.
3.6% unemployment rate vs. an estimate of 3.4%
Bitcoin broke $20,000 immediately after
DXY retreats to 104.8, which sees an uplift on major currencies inc EUR and GBP
While 25 bps is now the most likely for the upcoming FOMC meeting on 22nd March, with a terminal rate of 5.50%.

Probabilities of Fed Meeting: (Source: CME)

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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