Bitcoin and ether shrugged off the latest data showing the U.S. job market remains stubbornly strong.
Unemployment claims remain almost identical to where they were in January, defying the U.S. Federal Reserve’s efforts to cool labor markets. Tight labor markets have historically kept wages high, which is a key inflationary factor. The central bank’s uncertainty in recent months about how to account for the strong jobs data as it considers interest rate hikes has roiled financial markets.
Ether has joined bitcoin in trading in a narrow range, a sign that the recent spate of volatility for both is beginning to wane. While still at levels last seen in August and November, the Average True Range for both assets has begun a decline from their recent peaks.The decline in ATR aligns with a reduction in trading volume. Volume can often indicate who has the loudest voice in the room among bullish and bearish investors.
Looks like they're better at reading the news than most of us!
GWilliamsJr_CMT This shows that the crypto market is maturing and becoming more independent, with its own set of drivers and market forces. As cryptocurrency gains wider adoption, it'll be interesting to see how it continues to evolve in the future. bitcoin Ether
GWilliamsJr_CMT Web3 will carve its own path.
GWilliamsJr_CMT EZO is Flying!!
GWilliamsJr_CMT Shitcoin Markets Analysis: $EZO will go to the moon
GWilliamsJr_CMT $EZO play of the month lfg
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