A notable event has occurred in the world of cryptocurrencies and financial markets: Bitcoin has reached a new 10-week high. This growth comes amid statements by former US President Donald Trump, who calls on the Federal Reserve System (Fed) to cut interest rates.
Bitcoin and Stocks Rise
In addition to Bitcoin, stocks are also showing growth. This is due to the general interest of investors in risk assets amid economic news.
US Employment Data
According to the report, non-farm payrolls data beat expectations. In April, 177,000 jobs were added, while only 140,000 were expected. This is a strong figure, which is usually seen as a positive factor for the economy.
Impact on Markets
However, such a strong labor market result can also have negative consequences for cryptocurrencies and other risk assets. This gives the Fed more room to keep rates high, which could put pressure on some financial instruments.
Traders’ reactions
Cryptocurrency market traders are warning of a possible “liquidity grab” above $97,000. Some of them believe that the current highs may be temporary and that the market may correct.
Forecasts and expectations
The Fed’s next rate decision is expected on May 7. The probability of a rate cut next week is only 2%. This suggests that the market does not expect significant changes in monetary policy yet.
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