Bitcoin and overall crypto markets will now shift focus to US. labor sector updates to gauge the pace of next November Fed rate cuts...
edged higher and retested $66k on Friday following a softer reading from the U.S Fed’s favorite inflation data – The Core PCE Index . This index tracks U.S inflation without the noise from food and energy price fluctuations.
Ergo, upcoming U.S labor sector updates will impact the next market direction, noted trading firm QCP Capital. “Strong performance in these metrics could bolster the case for a 50bps cut in November, further propelling risk assets.”
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