The number of new jobs added in the United States in September was 29000, lower than the expected 84000. The total data for the first two months was revised down by 60000, and the unemployment rate rose to 4.2%. The probability of the Federal Reserve raising interest rates in October has decreased from 70% earlier this week to about 14%. Bitcoin was reported at $86152, about 1.4% lower than its September high of $87354, and hit a high of $87173 on the day. The total market value of cryptocurrencies exceeds 3 trillion US dollars, with a 2.5% increase in 24 hours; The market share of Bitcoin is 59.1%.
AI interpretation: The growth momentum of the job market has significantly weakened, and the weak demand for labor has been established. The rising unemployment rate has directly shaken confidence in an economic soft landing, forcing the Federal Reserve to significantly reduce expectations of tightening policies. The market's bet on interest rate hikes has rapidly faded, and the liquidity environment has seen substantial improvement. This macro level cooling directly drives up the prices of risk assets, and Bitcoin, as a liquidity indicator, has taken the lead in making a positive response.
