The post Interest Rate Cut Expected as Labor Data Paused appeared on BitcoinEthereumNews.com. Key Points: U.S. labor data release paused amid government shutdown, impacting macroeconomic assessments. Market expects potential Federal Reserve rate cut this month. Crypto assets like Bitcoin experience trading volume surge amid uncertainties. The U.S. Bureau of Labor Statistics is not expected to release the nonfarm payroll report this Friday due to the ongoing government shutdown, signaling potential impacts on market dynamics. Despite this, private sector data indicates weak hiring and moderate wage growth, affecting market strategies and potential Federal Reserve actions on interest rates. Federal Reserve May Cut Rates Amid Missing Labor Data The absence of the nonfarm payroll report from the U.S. Bureau of Labor Statistics due to the government shutdown leaves a gap in labor market assessments. Private reports indicate weak hiring and moderated wage growth for September, suggesting easing demand for labor. Economists suggest the Fed may proceed with a rate cut. Investor reactions in cryptocurrency markets have been notable. Michael Feroli from JPMorgan Chase remarked that the Fed could act confidently on interest rates despite the missing data. “Even without the nonfarm payroll report, we can still have a rough understanding of the labor market conditions. Given everything we’ve seen, I believe the Fed can confidently cut interest rates later this month.” Bitcoin showed trading volume increases as it surpassed $120,000 briefly, reflecting strong sentiment amid macroeconomic uncertainty. According to CoinMarketCap, Bitcoin (BTC) currently trades at $120,294.63 with a market cap of $2.40 trillion and a dominance of 58.06%. Its 24-hour volume reached $71.10 billion, rising 1.37% and continuing a positive trend over the past 90 days with significant institutional interest fueling the momentum. During shutdowns, crypto markets provide alternate hedging venues. The Coincu research team emphasizes that potential interest rate reductions could provoke fresh inflows into digital currencies. Notably, Bitcoin’s resilience amidst traditional market volatility… The post Interest Rate Cut Expected as Labor Data Paused appeared on BitcoinEthereumNews.com. Key Points: U.S. labor data release paused amid government shutdown, impacting macroeconomic assessments. Market expects potential Federal Reserve rate cut this month. Crypto assets like Bitcoin experience trading volume surge amid uncertainties. The U.S. Bureau of Labor Statistics is not expected to release the nonfarm payroll report this Friday due to the ongoing government shutdown, signaling potential impacts on market dynamics. Despite this, private sector data indicates weak hiring and moderate wage growth, affecting market strategies and potential Federal Reserve actions on interest rates. Federal Reserve May Cut Rates Amid Missing Labor Data The absence of the nonfarm payroll report from the U.S. Bureau of Labor Statistics due to the government shutdown leaves a gap in labor market assessments. Private reports indicate weak hiring and moderated wage growth for September, suggesting easing demand for labor. Economists suggest the Fed may proceed with a rate cut. Investor reactions in cryptocurrency markets have been notable. Michael Feroli from JPMorgan Chase remarked that the Fed could act confidently on interest rates despite the missing data. “Even without the nonfarm payroll report, we can still have a rough understanding of the labor market conditions. Given everything we’ve seen, I believe the Fed can confidently cut interest rates later this month.” Bitcoin showed trading volume increases as it surpassed $120,000 briefly, reflecting strong sentiment amid macroeconomic uncertainty. According to CoinMarketCap, Bitcoin (BTC) currently trades at $120,294.63 with a market cap of $2.40 trillion and a dominance of 58.06%. Its 24-hour volume reached $71.10 billion, rising 1.37% and continuing a positive trend over the past 90 days with significant institutional interest fueling the momentum. During shutdowns, crypto markets provide alternate hedging venues. The Coincu research team emphasizes that potential interest rate reductions could provoke fresh inflows into digital currencies. Notably, Bitcoin’s resilience amidst traditional market volatility…