As U.S. initial jobless claims come in lower than expected and 3Q GDP gets revised higher, bitcoin $BTC traders might not want to fight the Fed GWilliamsJr_CMT writes
: Just as traders in cryptocurrencies and traditional finance were looking forward to saying goodbye to 2022, a dose of better-than-expected economic data may have dampened the mood for asset prices, yet again.
The challenge with inflation is that it impacts everyone, and that's a key reason the Fed is unlikely to let up. The decision to purchase a financial asset, whether bitcoin, equities, or anything else is usually discretionary. The decision to purchase food, energy, and household goods is not. While on the surface this appears to be good news, Federal Reserve Chair Jerome Powell has emphasized that the labor market needs to “soften”.
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