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Bitcoin climbs to $108k as $248 million in liquidations flush traders from market Bitcoin closes above $106k for first time and without retail frenzy BlackRock’s IBIT becomes second-largest Bitcoin holder behind Satoshi Nakamoto Eighty percent of Americans favor converting US gold reserves to Bitcoin, poll reveals Bitcoin ETFs post strongest inflow since May 2 as investor demand returns
Market has started to price in a 10% chance of a 25bps rate hike, due to jobs data Market has started to price in a 10% chance of a 25bps rate hike, due to jobs data James Van Straten · 2 years ago
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Market has started to price in a 10% chance of a 25bps rate hike, due to jobs data

Stunning market shift: payroll data continues to exceed expectations and U.S. unemployment hits 3.4% — hitting lows of 1969.

James Van Straten / @jvs_btc / May. 5, 2023 at 2:00 pm UTC

Quick Take

  • The U.S. unemployment rate moves down to 3.4%, the lowest level since 1969.
  • Payroll data came in at 253,000, with an expectancy of 185,000.
  • The market is currently pricing in a pause, but 25bps was not considered before today; now, there is a 10% chance.
  • This would take the fed funds rate to 5.25-5.50
Fed funds: (Source: CME)
Fed funds: (Source: CME)
Unemployment: (Source: Charlie Biello)
Unemployment: (Source: Charlie Biello)
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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Bitcoin climbs to $108k as $248 million in liquidations flush traders from market

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