The delayed US jobs report just hit, and it's a mixed bag with clear crypto implications. November saw 64K jobs added, beating the 50K forecast. But October was a shocker at -105K losses. More importantly, the Unemployment Rate ticked up to 4.6%.
What This Means for Crypto ๐ง
For the Fed,this signals a cooling labor market. Historically, this weakens the dollar and boosts the case for rate cuts, which is typically positive for risk assets like Bitcoin. However, the data is messy due to past government shutdowns, so volatility is the near-term guarantee.
Market Reaction & Levels to Watch ๐
On the release,Bitcoin was hovering near $90,000**. Some analysts see this mix of weak data and higher unemployment fueling a relief rally, with a potential test of **$95,000 if dovish Fed expectations grow. Altcoins followed the leader, with Ethereum around $3,000** and **XRP near $2.11.
The Trader's Takeaway
The weak trend in employment data supports the macro bull case for crypto by keeping pressure off the Fed to hike.Watch for a sustained move above $91,600 (a recent high) as a signal that the market is focusing on future liquidity over recession fears.
Trade safe, and always manage your risk! Whatโs your read on this NFP? Share your charts below! ๐
