#失业率 Why is the increase in unemployment in the United States good for the cryptocurrency market?
Employment data is bad data regardless of whether it is good or bad, but some are very bad now, and some will be very bad in the future. The unemployment data is the latter.
Why did the risk market including #BTC rise when unemployment rose? It is because one of the conditions for the Fed to cut interest rates is that the unemployment rate in the United States rises to more than 4%. This is also the reason why the risk market rose sharply after the last non-agricultural data. The unemployment rate rose from 3.8% to 3.9% in the last data. This is the traditional "funeral celebration".
In fact, the unemployment data is not important. It is really not very useful. It will be updated once a week, but the current market needs data guidance too much. Therefore, as long as the relevant data is expected, the number of people applying for relief benefits is high, and many friends think that the unemployment rate has risen. In fact, the application for unemployment benefits and the unemployment rate are not very strongly bound.
But the market's expectations are fine, the market is always right, which is why we should pay more attention to macro data when liquidity is tight. Even unemployment benefits can cause large market fluctuations, and tomorrow's PCE will have a greater impact.