Labor pain, crypto gain — How weak JOLTS data sets path for Bitcoin price to rally
Today’s JOLTS report showed a sharp drop in open US jobs, but this might not be a bad outcome for Bitcoin.
Key points:
Weak labor and consumer data often precede Bitcoin rallies, leading some analysts to anticipate future economic stimulus programs.
Job openings fell to 7.2 million in March versus the 7.5 million forecast and consumer confidence hit its lowest level since January 2021.
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