Bitcoin after the US jobs report: 29,000 positions, and the Fed pause moves closer

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.The US labour market produced just 29,000 jobs in September, and July was revised after the fact to a loss of 10,000. What that means for the Fed meeting on October 27 and 28, for the levels on your chart and for leveraged positions.The US labour market added just 29,000 jobs in September, and the unemployment rate rose to 4.2 percent. For investors in Germany, the first consequence is this: the pressure on the Federal Reserve to turn the rate screw once more on October 27 and 28 has eased markedly. Bitcoin reacted to the upside and reached $87,086 over the past 24 hours before giving ground again. The underlying figures are weaker than the headline suggests. The US Department of Labor did not only report a disappointing September number, it also revised July into negative territory after the fact. What that means for the rate path, for the levels on your chart and for leveraged positions is set out in this article. The September jobs report: 29,000 new positions instead of the ...