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Will Crypto Ride Macro Optimism?

As stock indices push up and the Fed quiets down, is crypto ready to moon?

Jack Inabinet
Dec 13, 2023 • 1 min read

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With TradFi indices like the tech-heavy NASDAQ-100 pushing towards new all-time highs, Cryptocurrencies are still busy recovering from the weekend’s dump. Thankfully, the TradFi market momentum seems poised to give tokens room to run.

A weakening yet resilient labor market has traders now wagering that the Fed’s battle against inflation is complete, leaving them to assume that America’s Central Bank will soon begin cutting interest rates. On Wednesday, the Fed announced it would leave interest rates unchanged yet again.

🔸 Treasury Yields Fall As US Labor Markets Continues To Weaken

New signs of cooling US labor markets weaken Treasury yields, likely boosting bets that the Fed will start cutting interest rates soon. ADP says private-sector employment increased by 103,000 jobs in November, down…

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Written by Jack Inabinet

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Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial real estate development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business.