Initial Unemployment Insurance Claims Data



The data for the week ending May 2nd in the U.S. exceeded expectations, indicating the job market is still weak. The Federal Reserve shouldn't even think about raising interest rates or shrinking its balance sheet in the short term; easing must continue.

For the crypto world, this is positive news: a weakening dollar plus expectations of liquidity easing directly benefit Bitcoin and other major cryptocurrencies, with short-term rebound logic lining up.

Next, it depends on how the market prices in this easing expectation. #BTC
BTC-1.3%
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