Arthur Hayes Predicts Bitcoin Price Crash Below $50,000 This Weekend

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Related Reading: Senator Lummis Claims Bitcoin Could Cut National Debt In Half By 2045 Since March 2022, job openings have declined by an alarming 4.51 million, or 38%, a reduction that The Kobeissi Letter describes as “MASSIVE.” They added, “The most notable drop was seen in construction openings which fell to 248,000 in July, their lowest since October 2020.

Meanwhile, the ratio of job vacancies to unemployed workers fell to 1.07 in July, in line with 2018 levels.” This backdrop of weakening job data and revised economic forecasts has undoubtedly contributed to the bad sentiment on the Bitcoin market.

It’s clear that unemployment data is quickly becoming the primary driver of Fed policy, along with inflation.” According to the analysts, today’s jobs report will be the key factor in determining if the US Federal Reserve (Fed) will cut interest rates by 50 bps or 25 bp.

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Article Details

Author / Journalist: Jake Simmons

Category: Crypto

Markets: United KingdomAustria

Topics: Arthur Hayes Btc Bitcoin price crash Bitcoin price Bitcoin Bitcoin BTC news Btc price Bitcoin crash Bitcoin news

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-06 @ 13:00:05 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 550 words

Reading Time: 4 minutes read

Sentences: 75 lines

Sentence Length: 8 words per sentence (average)

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Copyright Owner: © NewsBTC

News ID: 22391820

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