Market Experts Forecast Altcoin Market Valuation to Reach Record-Breaking $4 Trillion.

Quick Summary:

Recent data releases from the US provided a visible lift to the market, also supported by a dovish Federal Reserve and the Quick Rate Adjustment (QRA).

The employment data released on Friday depicted numbers weaker than forecasted, with Non-Farm Payrolls showing net additions of 175,000 jobs against the predicted 240,000.

Concurrently, the dovish postures of the Federal Reserve and the Treasury have led to a dramatic flip in interest rate expectations, bringing down the US 2-year Yields from above 5% to nearly 4.7%.

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Article Details

Author / Journalist: Kelvin Munene Murithi

Category: Crypto

Markets: India

Topics: GBTC Altcoin News US Jobs data Altcoin rally 24/7 Cryptocurrency News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-05-05 @ 04:59:11 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 516 words

Reading Time: 3 minutes read

Sentences: 31 lines

Sentence Length: 17 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 20874445

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