It appears that the February US job data, as released by the Labor Department, has breathed new life into the spirits of those who follow the vagaries of Bitcoin and altcoins. The nonfarm payrolls, a metric that gauges the health of the US economy and influences the Federal Reserve’s rate cut plans, increased by a respectable 151,000 in February, aligning with market expectations.
The Nitty-Gritty Details
The market participants, with bated breath, awaited the Labor Department’s report, and, as it turned out, the data did not disappoint. The number of nonfarm payrolls increased by 151,000 in February, a slight dip from the 143,000 noted in the prior month, but still within the realm of market expectations of 160,000. However, the unemployment rate ticked up to 4.1%, its highest since December 2024, fueling speculation that the Fed may adopt a more dovish stance on monetary policy.
As one might expect, the crypto market, closely tied
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2025-03-07 17:33