Unemployment benefit applications - 210K against a forecast of 211K. Almost to zero. But the main thing is not the number, but the absence of problems.
The labor market is not collapsing. And that's enough for the Fed not to rush.
It's like a situation where a doctor looks at a patient and says: “not perfect, but stable.” And they decide not to change the treatment.
For the market, this is a bit boring. But this kind of “boring stability” is precisely what keeps rates higher for longer than one would like.
$BTC and $ETH in such conditions do not get what they need most - a quick policy turnaround and cheap money.
And here’s the fine point. The data is not bad. It’s just not bad enough for anything to change.
The crypto market is currently living on these expectations of change.
Therefore, the reaction is usually subdued or slightly negative. Not because everything is bad. But because “nothing has gotten better.”
Sometimes the greatest pressure on the market is not a crisis, but prolonged expectation.
It seems we are just in such a phase.
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