U.S. Jobs Data Aligns with Expectations
U.S. jobs growth in May matched expectations, hinting that the Federal Reserve might stick to its planned rate cuts. On June 6, employers added 139,000 new jobs, slightly above the forecast. This figure was lower than April’s revised 147,000 but still within the predicted range.
The unemployment rate stayed at 4.2%, a low number. Government jobs saw a loss of 22,000, but the private sector showed strength.
Despite this, the jobs report didn’t considerably impact the crypto market. Instead, the public feud between President Trump and Elon Musk stole the spotlight. However, macroeconomic factors will still influence Bitcoin’s performance.
Analysts at Bitfinex believe the jobs data will guide the Fed’s interest rate decisions. With employment numbers stable, the Fed may not feel pressured to cut rates. Instead,it will focus on inflation,a risk linked to Trump’s trade policies.
High interest rates could strengthen the dollar and affect Bitcoin ETF flows. Yet, the macro environment is unpredictable, and policy shifts are possible. Traders should stay cautious and monitor the Fed’s next moves.
