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
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James Van Straten
This article was published 3 years ago. Some details may no longer reflect current market conditions or recent developments. If you spot anything that needs an update, contact us.
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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)
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James Van Straten
James Van Straten
Former Lead Analyst 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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