Crypto market rally beckons as US non-farm jobs double expectations
The global crypto market capitalization rebounded above the $1.6 trillion milestone on Feb. 2 as the latest non-farm payrolls figures cast doubt on U.S. Fed Chief, Jerome Powell’s recent comments. The job figures in the latest non-farm payrolls report suggest crypto bulls could position for positive price action. Powell’s comments send crypto prices into $90 billion tailspin On Feb. 1, the global crypto market capitalization dipped toward the $1.5 trillion area. This came barely 48 hours after Powell made controversial statements suggesting postponing rate cuts beyond March 2024, as widely predicted. “Based on the meeting today, I would tell you that I don’t think it’s likely that the committee will reach a level of confidence by the time of the March meeting to identify March as the time to do that. But that’s to be seen,” U.S. Federal Reserve Chairman Jerome Powell Powell’s statements came after a scheduled Federal Open Market Committee (FOMC) meeting on Jan 31. It ...