💰💰Breaking News: JOLTS Released, What Does It Mean for Cryptocurrencies? 💰💰
U.S. JOLTS Data Released: 7.74M (Expectation: 7.6M)
U.S. short-term interest rate futures recovered from their earlier losses following the release of job openings data.
As Bitcoin continues to trade around $80,500, volatility in its price persists, and BTC, which fell to $76,600 in the last 24 hours, has once again tested the $80,000 level. However, this recovery may not be sufficient. Altcoins have retreated to new ATL levels during the process, and risk appetite has significantly decreased due to global uncertainty. The JOLTS data released today provides an important indicator of the state of the U.S. labor market. So, what is expected in cryptocurrencies?
JOLTS data (Job Openings and Labor Turnover Survey) is a report that includes statistics related to the workforce, such as job openings and separations. This data provides important information about the overall health of the economy by measuring labor demand and turnover. In an environment where recessions are being discussed, having this data fall short of expectations will complicate Federal Reserve policies even further.
Although Trump does not seem very worried about this situation, the risk of recession is becoming increasingly evident, and the U.S. economy could suffer severe economic damage as a result of retaliation from countries affected by tariffs. In December, JOLTS data fell to 7.6 million. For this month, it was expected that the same level would remain stable.
However, the published data exceeded expectations, reaching 7.74 million. This data, which indicates the health of the labor market, may somewhat balance concerns about recession.
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