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Bitcoin dominance rises to 60% as altcoins falter US Bitcoin ETFs face largest outflow since launch breaking 15-day streak Bitcoin pullback mirrors 2020 reversal 250 days post-halving, it then rose 140% Marathon and Hut 8 scoop up $1.6 billion worth of Bitcoin during market dip Solana surpasses rivals with record-breaking 66.9 million daily transactions
Bitcoin breaks $20k following NFP and unemployment data, as markets favour 25bps instead of 50bps Bitcoin breaks $20k following NFP and unemployment data, as markets favour 25bps instead of 50bps James Van Straten · 2 years ago
Insights Macro

Bitcoin breaks $20k following NFP and unemployment data, as markets favour 25bps instead of 50bps

Unemployment rate goes up to 3.6% as Bitcoin breaks 20k

James Van Straten / @jvs_btc / Mar. 10, 2023 at 1:34 pm UTC

Quick Take

  • +311k jobs created vs. estimate of +205k.
  • 3.6% unemployment rate vs. an estimate of 3.4%
  • Bitcoin broke $20,000 immediately after
  • DXY retreats to 104.8, which sees an uplift on major currencies inc EUR and GBP
  • While 25 bps is now the most likely for the upcoming FOMC meeting on 22nd March, with a terminal rate of 5.50%.
Currencies: (Source: Trading View)
Currencies: (Source: Trading View)
Probabilities of Fed Meeting: (Source: CME)
Probabilities of Fed Meeting: (Source: CME)
Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.

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