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Bitcoin breaks $20k following NFP and unemployment data, as markets favour 25bps instead of 50bps

  • March 10, 2023
  • Posted by: admin
  • Category: BitCoin, Blockchain, Cryptocurrency, Investments
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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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