The US Labor Department’s historic revision of payrolls down by 911,000 highlights severe labor market issues. This decline raises expectations for a Federal Reserve interest rate cut, which is likely to impact asset prices.
Currently priced at 110,963 USD, Bitcoin could benefit from anticipated liquidity expansion due to a rate cut. Analysts forecast that if correlations hold, Bitcoin could surge to between 167,000 USD and 185,000 USD by the end of the year.
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