Leena ElDeeb, research analyst at investment firm 21shares, provided insight on how the latest U.S. jobs report could influence bitcoin’s price. Following Friday’s report, which showed stronger-than-expected non-farm payroll growth and an increase in job openings for August, ElDeeb emphasized the importance of labor market data for the broader crypto market. She stated:

Bitcoin and the longer tail of crypto assets are sensitive to labor market data because it influences the Fed’s decision on rate cuts, which in turn have a positive impact on bitcoin as borrowing costs fall.

ElDeeb also noted that recent geopolitical tensions had caused disruptions in the market, but she anticipates a recovery. “We expect flows to start recovering following the escalation of geopolitical tensions that shook the market over the past week,” she said.

With the Federal Reserve closely monitoring labor conditions, bitcoin prices are likely to respond positively as rate cuts ease borrowing costs. 21shares, the world’s largest issuer of crypto exchange-traded products (ETPs), continues to track these macroeconomic trends as they shape digital asset movements.

Last month, the Federal Reserve made its first interest rate cut in over four years, reducing rates by 50 basis points. This shift followed a series of rate hikes aimed at controlling inflation. More cuts are anticipated, with projections suggesting additional 25 basis point reductions by year’s end, contingent on economic and labor market conditions.

The 21shares analyst explained: “The Fed is looking for a strong labor market, which the non-farm payroll has indicated, rising against expectations. Moreover, job openings grew in August, demonstrating strength in the labor market.” She further shared:

Bitcoin and the longer tail of crypto assets are sensitive to labor market data because it influences the Fed’s decision on rate cuts, which in turn have a positive impact on bitcoin as borrowing costs fall. Therefore, we expect flows to start recovering following the escalation of geopolitical tensions that shook the market over the past week.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。