Related Reading: Bitcoin Faces Mixed Signals: Institutional Investors Accumulate Amid Retail Weakness Fed’s Pivot To Rate Cuts Is Dead – Analysts In an X post on December 10, market experts at global capital market analysis firm The Kobeissi Letter dissected the employment situation summary for December 2024. According to the BLS, nonfarm payrolls employment rose by 256,000 jobs in this month, indicating an additional 100,000 jobs to the widely predicted figures.
Following this report, The Kobeissi Letter analysts highlight that the US economy has gained an average of 165,000 jobs since July representing the highest 6-month average since July 2024. Considering the US Federal Reserve began implementing interest rate cuts from September 2024 citing then a reduction in jobs growth and inflation, the analysts at The Kobeissi Letter stated the Apex Bank’s approach may have been misguided in light of the recent developments.
Following the Fed’s previous announcement of potential reduced rate cuts in 2025, Bitcoin experienced a flash crash of over 9% mid-December as investors moved to close their volatile positions in all financial markets.
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