Hiring Slowdown May Boost Bitcoin, Wages Pose Risk

A potential slowdown in U.S. hiring could create a favorable environment for Bitcoin, as it might signal a cooling economy and potentially lead the Federal Reserve to consider interest rate cuts. Lower rates typically make riskier assets like cryptocurrencies more attractive to investors. However, the impact hinges significantly on wage growth. If wages continue to rise robustly despite a hiring slowdown, it could fuel inflation concerns, prompting the Fed to maintain a tighter monetary policy, which would likely be a headwind for Bitcoin. Investors will be closely watching upcoming economic data for clues.