Bitcoin, Ethereum, Dogecoin Soar As Weaker Jobs Data Signals Potential Rate Hike Pause By Fed: Analyst Says Apex Crypto Maybe Poised For 'Abnormal' Bull Run
Portfolio Pulse from Mehab Qureshi
Major cryptocurrencies including Bitcoin, Ethereum, and Dogecoin experienced a surge on Monday evening, driven by the anticipation that the Federal Reserve may halt its rate hikes due to weaker U.S. jobs data. The global crypto market cap currently stands at $1.32 trillion. Stocks also continued their upward momentum on Monday, with the Nasdaq Composite, S&P 500, and Dow Jones Industrial Average all making gains. Crypto analysts suggest that Bitcoin may be poised for an unexpected bull run that could extend into the next year.
November 07, 2023 | 2:54 am
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Bitcoin experienced a surge, potentially due to anticipation of a halt in Federal Reserve rate hikes. Analysts suggest Bitcoin may be poised for an unexpected bull run.
The surge in Bitcoin's price is directly linked to the anticipation of a halt in Federal Reserve rate hikes. This, coupled with analysts' predictions of a potential bull run, suggests a positive short-term impact on Bitcoin's price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Dogecoin experienced a significant surge, potentially due to anticipation of a halt in Federal Reserve rate hikes.
The significant surge in Dogecoin's price is directly linked to the anticipation of a halt in Federal Reserve rate hikes. This suggests a positive short-term impact on Dogecoin's price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Ethereum also experienced a surge, potentially due to anticipation of a halt in Federal Reserve rate hikes.
The surge in Ethereum's price is directly linked to the anticipation of a halt in Federal Reserve rate hikes. This suggests a positive short-term impact on Ethereum's price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80