Bitcoin

Impact

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-prices-surge-as-jolts-data-impacts-market-sentiment/" data-wpel-link="internal">Bitcoin Prices Surge as JOLTS Data Impacts Market Sentiment</a><br></p>
<p style="text-align: justify"><strong>The price of Bitcoin (BTC) is reaching new heights while <a href="https://en.coin-turk.com/impact-of-token-unlock-schedules-on-market-dynamics/" data-wpel-link="internal">altcoins</a> continue to rise.</strong> Today, significant data was released. We mentioned that there would be a flurry of important data announced throughout the week. Today’s and upcoming data will contain critical signals regarding the U.S. economy.</p> 
<h2 style="text-align: justify" id="u-s-jolts-data">U.S. JOLTS Data</h2> 
<p style="text-align: justify">Due to negative trends in employment data, Fed officials expressed regret, stating they should have begun interest rate cuts in July. One of the Fed’s two primary roles is to maintain employment, while the other focuses on price stability. Since inflation has stabilized and neared the 2% level, the Fed must continue with interest rate cuts until reaching a neutral stance.</p> 
<h2 style="text-align: justify" id="impact-on-cryptocurrencies">Impact on Cryptocurrencies</h2> 
<p style="text-align: justify">While accelerating interest rate cuts by the Fed could pose risks to the economy, it is positive for <a href="https://en.coin-turk.com/terra-luna-classic-lunc-price-rise-a-bright-spark-in-a-sluggish-crypto-market/" data-wpel-link="internal">cryptocurrencies</a>. Given the expectation of subpar employment data, the Fed may consider speeding up its easing measures, making today’s JOLTS data revealing job openings particularly significant. </p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-401634 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/10/BTCUSDT_2024-10-29_17-01-07.png" alt="" width="1815" height="836"></p> 
<p style="text-align: justify">The expectation for JOLTS was 8 million, with a previous reading of 8.040 million, but the announced figure came in at 7.443 million. This disappointing data suggests that the Fed may need to act more quickly due to the easing in employment. Following the release of this data, BTC began to rise.</p> 
<p>The post <a href="https://en.coin-turk.com/bitcoin-prices-surge-as-jolts-data-impacts-market-sentiment/" data-wpel-link="internal">Bitcoin Prices Surge as JOLTS Data Impacts Market Sentiment</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Bitcoin Prices Surge as JOLTS Data Impacts Market Sentiment

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