Labor pain, crypto gain — How weak JOLTS data sets path for Bitcoin price to rally

Q: How long will it take to read this news story?

The story "Labor pain, crypto gain — How weak JOLTS data sets path for Bitcoin price to rally" has 637 words across 34 sentences, which will take approximately 3 - 6 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "Labor pain, crypto gain — How weak JOLTS data sets path for Bitcoin price to rally" was covered 14 hours ago by Coin Telegraph, a news publisher based in United States.

Q: How trustworthy is 'Coin Telegraph' news outlet?

Coin Telegraph is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news. The outlet is headquartered in United States and publishes an average of 27 news stories per day. It's most recent story was published 7 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #28291352</li><li>URL: https://vaccinium.beamstart.com/news/labor-pain-crypto-gain-how-17459708767140</li></ul>

Coin Telegraph 14h ago

Labor pain, crypto gain — How weak JOLTS data sets path for Bitcoin price to rally - Coin Telegraph

Quick Summary:

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.

Generally, Bitcoin (BTC) and altcoins perform poorly when investors fear that employment and consumer data are weakening. According to a US Labor Department JOLTS report released on April 29, job openings in March approached their lowest levels in four years.US employers posted 7.2 million vacancies in March, below the 7.5 million that economists had forecast.

Future expectations matter more than today’s weak economic dataThe last time the US experienced a drop in job openings and weakening consumer confidence was between January and June 2024.