Bitcoin surges to two-week high on weak September jobs data, Fed rate cut bets
Key Takeaways
- Bitcoin reached a two-week high following weaker-than-expected private payroll data from ADP.
- Investors expect the Federal Reserve may cut interest rates sooner due to signs of economic softening.
Bitcoin rose to a two-week high of above $117,000 today following weaker-than-expected private payroll data from ADP, a payroll services provider, which strengthened expectations for Federal Reserve interest rate cuts.
The flagship cryptocurrency gained momentum as investors interpreted the disappointing jobs report as evidence of economic softening that could prompt more accommodative monetary policy. Risk assets typically benefit from lower interest rate environments due to increased market liquidity.
Recent labor market revisions have amplified fears of an economic slowdown, with cooling inflation metrics and declining labor participation strengthening the case for imminent Fed rate adjustments.
Historical patterns suggest cryptocurrencies often perform well during fall months, with current market sentiment aligning with policy-driven optimism. The combination of weakening economic indicators and seasonal trends has created a favorable environment for digital asset gains.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Mars Morning News | After the Ethereum Fusaka upgrade, the blob base fee surged by 15 million times
Multiple blockchain industry updates: a Bitcoin OG wallet transferred 2,000 BTC; Cloudflare outage was not caused by a cyberattack; the DAT bubble has burst; Ethereum Fusaka upgrade fees have surged; LUNC has risen over 80% intraday. Summary generated by Mars AI. This summary was generated by the Mars AI model, and the accuracy and completeness of its content are still under iterative improvement.

Drones, Fake Birdsong, and Broken Glass Traps: Malaysia is Undergoing an Unprecedented "Bitcoin Crackdown"
The Malaysian government is intensifying its crackdown on illegal bitcoin mining, utilizing technologies such as drones and sensors to uncover numerous operations, with electricity theft causing significant losses. Summary generated by Mars AI. The accuracy and completeness of the content generated by the Mars AI model are still in the process of iterative improvement.

Bitwise CIO: Stop Worrying, MicroStrategy Won't Sell Bitcoin
There are indeed many concerns in the crypto industry, but MicroStrategy selling bitcoin is definitely not one of them.

A 6200-fold profit: Who is the biggest winner of Moore Threads?
On December 5, Moore Threads officially debuted on the STAR Market, opening at 650 yuan, a surge of 468.78% compared to its issue price of 114.28 yuan.
